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Lower returns push Patrice Motsepe’s ARC out of Metrofibre

Investment holding company African Rainbow Capital is offloading its 8.7% interest in Metrofibre, which is valued at R268 million.

Sep 14, 2021

Motsepe’s TymeBank plans new salary advance products

The digital bank will introduce a buy-now-pay-later product called MoreTyme, as well as salary advance offerings, as it seeks to diversify its client base.


Investment firm, consortium buy 25.8% MetroFibre stake

The organisations agree to acquire a 25.8% interest in MetroFibre Networx held by Sanlam Private Equity, African Rainbow Capital and a minority shareholder.

Mar 31, 2021

TymeBank reaches 3m customers, 700 retail kiosks

The branchless bank bills itself among the world’s fastest-growing digital banks, on-boarding between 3 000 and 5 000 new customers daily.

Mar 23, 2021

MetroFibre, Investec sign R2.5bn debt funding deal

The financing will be used to extend the open access fibre network operator’s fibre connectivity into under-serviced homes and businesses.

Mar 19, 2021

Rain finds ‘window of 5G opportunity’ in spectrum impasse

The data-only mobile network operator says the delay in SA’s spectrum auction process is working in its favour, as it aggressively rolls out its 5G strategy.


Rain targets 2m customers, reaches R17.1bn valuation

The mobile network operator aims to rack up two million local customers over the next few years, as it reaches a R17.1 billion valuation.

Feb 23, 2021

TymeBank plans offshore expansion after scoring R1.6bn funding

The digital-only bank adds new board members and explores international opportunities after securing R1.6 billion in funding from investors in the UK and Philippines.

Jan 25, 2021

Bank Zero’s public launch hits snag amid COVID-19 interruptions

The digital-only newcomer delays its public launch and opts to run a “closed rollout” as a risk mitigation measure, amid the COVID-19 upheaval.

Dec 17, 2020

Patrice Motesepe’s TymeBank, Rain face COVID-19 hiccups

While Rain experienced faced certain ‘customer service challenges’ during the period, TymeBabk is tracking slightly behind its projections to attract clients.

Oct 2, 2020

Bank Zero on track for 2020 launch, says CEO

South Africa’s latest digital-only bank confirms it will be open to the public before the end of the year, with financial backing from seven investors.

Sep 15, 2020

TymeBank gets R750m lifeline as COVID-19 disrupts plans

African Rainbow Capital injected R750 million in TymeBank in the last financial year ended June, a tough period for the relatively new digital bank.

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