TymeBank is likely to break even in 2022. Discovery Bank, by contrast, is targeting breakeven in approximately three years’ time.
Browsing: ARC Investments
African Rainbow Capital Investments is planning to expand its portfolio and has entered negotiations to add a fintech conglomerate to the group.
Rain has enjoyed a surge in demand for wireless broadband in the past year thanks to the lockdown and work-from-home measures. It now plans to bid for more spectrum.
South African fibre telecommunications infrastructure company MetroFibre Networx has raised R2.5-billion in new debt financing, led by Investec, adding to the R1.5-billion recently raised from shareholders.
Rain, the first operator in South Africa to deploy a commercial 5G network, plans to roll out 2 000 5G high sites across South Africa’s main urban centres, although there is no timeframe for the build.
Rain expects to accelerate the installation of 5G towers to 1 500 in larger metropolitan areas in South Africa by December 2021, African Rainbow Capital Investments said on Friday.
African Rainbow Capital Investments has attached a remarkable R13.1-billion valuation to Rain, giving it a value 40% above Telkom’s current market capitalisation.