August 18, 2017

Motsepe diversifies into financing

South African Patrick Motsepe, as someone whom entrepreneurial DNA runs in the family, is pretty aware about the dangers of putting all investment eggs in one basket – a fact he learnt from his late father, a successful businessman in his own right in his time.

The chairman of African Rainbow Mining (ARM) recently announced the launch of African Rainbow Capital (ARC), a development which is seen as move to diversify from dependence on mining, a sector which is currently not doing fine due to low commodity prices. It is reported that Motsepe has injected R10bn in the new venture.

Underlining its intent, it is said that ARC has invested in insurance broker, Indwe, online rental property manager, PayPro, and Metrofibre, which provides fibre-to-the-home broadband solutions, African Mining Brief is reliably informed.

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