African Rainbow Capital has been topping up its shareholding in existing investments.But the company has sold a big chunk of its Afrimat shares and has disposed of its entire stake in MetroFibre.It was a busy 2021 for Patrice Motsepe's African Rainbow Capital , with the company spending R327 million on acquisitions in the second half of the year alone.
ARC Financial Services injected an additional R257 million into TymeBank and TymeGlobal. It also invested another R83 million in Alexander Forbes. After that investment and fair value gain of R86 million, ARC's effective investment in Alexander Forbes went from R767 million on 30 June 2021 to R936 million by 31 December 2021.
ARC co-CEO Johan van Zyl said after some setbacks on commencing production, the Elandsfontein mine has started producing phosphate.