Johannesburg - African Rainbow Capital (ARC) said yesterday that it would invest 29.9 percent in CMB International for a stake in independent banking advisory firm Bravura.
ARC’s co-chief executive, Johan van der Merwe, said the Bravura investment would not only provide corporate finance and structured solutions services as required across the group’s investments, but would also launch the platform for the smaller financial services investments in South Africa that ARC planned to make.
Van der Merwe said it would also help ARC in building its portfolio.
“Our investment in Bravura, through CMB International, supports our commitment to enable equity-based transformation in the property and financial services industries in Africa and South Africa,” said Van der Merwe.
The company said the investment was part of its acquisition strategy.
Chairman Kamal Taposeea said: “Having ARC as a strategic shareholder and the capital injection received through the ARC investment will accelerate this growth strategy.”
BUSINESS REPORT