Rain shareholder African Rainbow Capital Investments has valued the wireless broadband upstart at R22.2-billion.
Browsing: ARC Investments
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.
MetroFibre Networx is continuing its aggressive fundraising drive: the company has now secured a R5-billion debt financing package from Standard Bank Group.
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.
African Rainbow Capital Investments plans to offload its remaining stake in fibre network operator MetroFibre Networks.
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.
Sun Exchange, a South African firm that crowd-sources funds for solar panels and leases them to customers, plans to expand to other countries on the continent.
While plenty has been spoken around ARC’s fee structure, not enough has been asked about its valuation of Rain. By Keith McLachlan.