Press Release

Friday, 28 July 2017

African Rainbow Capital (ARC) Invests in Rain


Johannesburg – African Rainbow Capital (“ARC”) has invested in 20% of fixed and mobile data network operator Rain.



Johan van Zyl

Paul Harris, Rain Chairman.



African Rainbow Capital (“ARC”) has invested in 20% of fixed and mobile data network operator Rain. “We are delighted to partner with ARC and look forward to the strategic value they bring to the team”, says Paul Harris, Rain Chairman, “In addition they enhance our already significant BEE ownership credentials”.

ARC is a fully black owned and controlled investment company. “We focus on South African and African businesses that deliver exceptional returns on equity, and it is exciting to invest in a company that is at the start of its growth trajectory”, says Johan van Zyl, ARC co-CEO. “There is great demand in our country for fast, reliable and affordable data coverage and Rain promises to deliver just that.”

To date Rain has rolled out over 1 000 sites and 1 500 base stations, and is on track to meet its target of 2 000 sites by the end of the year and 5 000 within three years. Rain CEO, Duncan Simpson-Craib commented: “The additional capital raised from ARC, over and above the funding already in place, ensures that we have the capital to achieve our aggressive rollout targets over the next three years”.

Rain has recently entered into an agreement whereby Internet Solutions and its partners will provide clients with wireless broadband services powered by the Rain network. The LTE Advanced network, referred to as ‘fibre-in-the-sky’, is ideally positioned to be a pioneer in the future rollout of 5G networks.



Patrice Motsepe

Chairman of ARC, Patrice Motsepe.


For further information please contact:


For Rain Communication
Keri Krug
Public Relations & Communications
keri@rain.co.za
(+27) 87 727 6000
(+27) 83 344 6855


For ARC Communication
Johan van Zyl
ARC co-CEO
Johan.vanzyl@africanrainbowcapital.co.za



About Rain


Driven by innovative thinking and the very latest technology, Rain is building a ‘next generation’ LTE-Advanced network, making connectivity simpler, transparent, faster and more affordable. Rain aims to connect the people of South Africa to the limitless possibilities of the digital world.

Here’s to the future of fixed and mobile connectivity. A paradigm shift for mobile networks. Open your world.

www.rain.co.za.


About ARC


African Rainbow Capital (ARC) is a fully black owned and controlled investment company focusing on the South African and African financial services industry and businesses that deliver exceptional returns on equity. The ARC team is managed by Patrice Motsepe (Chairperson), Johan van Zyl and Johan van der Merwe as Co CEOs.

www.africanrainbowcapital.co.za



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