06 August 2019 - 18:26Patrice Motsepe’s African Rainbow Capital has bought a 25% stake in estate planning company Capital Legacy, which specialises in will drafting and estate administration, an acquisition through which the investment firm will complete its participation in the entire financial services value chain.
The acquisition of Capital Legacy, a relatively unknown seven-year-old company playing in a niche market, was in line with ARC’s previous deals where it invested in disruptive startups such as alternative stock exchange A2X, Michael Jordaan’s data mobile operator Rain and, more recently, in an artificial intelligence venture, the Ethos Artificial Intelligence Fund.
ARC also said there should be minimal overlaps between Capital Legacy and Sanlam, which also has a wills and estate planning business, because the two operate in different segments of the market. ARC’s parent company, Ubuntu Botho, has been Sanlam’s empowerment partner since 2004.
Thabelo_Ngwenya Yhoooo this will anger a lot of people