Rain shareholder African Rainbow Capital Investments has valued the wireless broadband operator at R25-billion.
Browsing: African Rainbow Capital
Patrice Motsepe is in talks with Canal+ to join the multibillion-dollar bid for MultiChoice Group, sources have said.
TymeBank, in which African Rainbow Capital is majority shareholder, has “onboarded” its eight millionth client.
Rain shareholder African Rainbow Capital Investments has valued the wireless broadband upstart at R22.2-billion.
The wireless data provider is set to record more than R2-billion in full-year Ebitda, after IFRS 16 adjustments, shareholder ARC Investments said.
Rain, which provides wireless, data-only services, plans soon to launch a mobile service, one of its shareholders said.
African Rainbow Capital Investments has attached a valuation to wireless Internet operator Rain of R17.9-billion, a 7.9% increase over last year’s figure.
TymeBank on Wednesday announced that it is acquiring Retail Capital, a fintech company that offers finance to SMEs.
African Rainbow Capital is switching to investing in digital banks and financial start-ups, while shunning mining stocks, saying the boom in commodity prices maybe overdone.
Rain is participating actively in communications regulator Icasa’s auction of broadband spectrum and expects its business to be a big beneficiary of the process.