African Rainbow Capital has acquired an 18,14% shareholding in fibre provider Metrofibre Networx.
African Rainbow Capital (ARC) is a subsidiary of Ubuntu-Botho Investments (UBI), a broad based black empowerment investment holding company. UBI was created in 2004 with its main purpose of being Sanlam’s empowerment partner. The shareholders of UBI include women’s groups, churches, trade unions, youth groups and traditional and community leaders, across all nine provinces. ARC’s directors include Patrice Motsepe, Johan van Zyl, former CEO of Sanlam, and Johan van der Merwe, former CEO of Sanlam Investments.
Steve Booysen, Executive Chairman and CEO at Metrofibre Networx says: “Metrofibre is a growing business with an excellent customer base and an unrivalled quality network that is continuing to expand into key areas throughout Gauteng. We believe that through our new partnership with African Rainbow Capital and the capital injection their investment into our business provides we will be able to further grow and expand our network and service offerings. It also enables us to continually innovate and invest in these stated network expansion plans.”
Metrofibre Networx is a South African owned and managed open access fibre network and broadband fibre provider, based in Gauteng. Founded in 2010, the company owns and manages South Africa’s first globally compliant Carrier Ethernet 2.0 (CE 2.0) open access fibre network. Apart from providing Layer 2 services to over 60 ISP’s and international Telcos Metrofibre provides a host of voice and data connectivity products in the enterprise space.