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African Rainbow Capital makes it official

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Last week saw the official launch of African Rainbow Capital, the new financial services venture set up by Patrice Motsepe which will focus on financial services and private equity investments. The firm, which will be headed by former Sanlam CEO Johan van Zyl and former Sanlam Investments CEO Johan van der Merwe, is looking to build a portfolio of assets in the banking, insurance, distribution, asset management, property, private equity and healthcare sectors. According to Business Day, the firm, which has a R10billion (about $680 million) commitment from the Motsepe family trust’s Ubuntu-Botho Investments, has already made a number of investments in partnership with Sanlam.

Read more at Business Day…

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