Business Chief Europe Magazine February 2018 | Page 62

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02 African Rainbow Capital Invest $ 326mn ( South Africa ) www . africanrainbowcapital . co . za accumulation of capital in partnership Ubuntu-Botho Investments was created with Sanlam . This objective has now in 2004 with its initial main purpose to largely been achieved , with Ubuntubuild black-controlled capital through Botho Investments holding about 14.5 % being Sanlam ’ s empowerment partner . of Sanlam ’ s issued shares with a current Allied to this , the vision of Ubuntu- value of around R17bn . According Botho Investments from the outset to its website , the second phase will was to make a difference in the lives of entail partially investing this capital in ordinary South Africans by being the African Rainbow Capital , which is set to premier black-owned and controlled become a leading South African-based , financial services entity . The first black-owned-and-controlled financial phase of realising this vision was the services company .

62 February 2018