Motsepe’s ARC listing transforms financial services sector

Dr Patrice Motsepe, Chairman of African Rainbow Capital and Ubuntu Botho Investments sounding the kudu horn.IMAGE PROVIDED

Dr Patrice Motsepe, Chairman of African Rainbow Capital and
Ubuntu Botho Investments sounding the kudu horn.IMAGE PROVIDED

By MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – AFRICAN Rainbow Capital (ARC) Investments Limited has listed on the main board of the Johannesburg Stock Exchange.
It is the 12th company to list on the JSE this year and brings the total amount of capital raised on the exchange to date in 2017 to just over R76 billion (about$6 billion).
Donna Nemer, Director: Capital Markets at the JSE, said the listing  represented important progress in the transformation of the financial services sector.
“JSE is proud to be able to aid in its growth through providing the company with access to deep pools of capital by means of a credible,
liquid and well-regulated platform,” she said.
ARC, a capital raising and investment entity incorporated in Mauritius, is a majority black-owned investment holding company which seeks to utilise its empowerment credentials, strong balance sheet and the track record of its leadership and brand to invest in financial services distribution businesses.
Ubuntu-Botho Investments (UBI), created in 2003, wholly owns ARC.
Patrice Motsepe, Chairman of both Ubuntu Botho Investments and ARC, hailed the listing.
“The listing of ARC Investments on the JSE is a major step towards realising one of the key objectives of ARC, namely to build a world class broad- based black – controlled investment entity for all South Africans,” Motsepe said.
The Speciality Finance Sector, under which ARC listed, has a total market capitalisation of R108,8 billion and contributes 0,7 percent to the overall market capitalisation of the JSE.
CAJ News

Short URL: http://cajnewsafrica.com/?p=22402

Posted by on Sep 7 2017. Filed under Africa & World, Featured, Finance, Mining, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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