Tough economy rains on ARC’s parade

Their diversified portfolio still couldn’t shield African Rainbow Capital Investments from tough economic conditions in South Africa. Patrice Motsepe’s investment holding company saw profits fall 88 percent to R77 million from R675 million in the previous period. Co-CEO Johan van Zyl spoke to CNBC Africa’s Kopano Gumbi about the business strategy, bringing 5G to all South African’s through their mobile network RAIN and Tyme Bank’s quest to change banking.

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