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South African Billionaire Patrice Motsepe Invests In Fibre Provider

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Mfonobong Nsehe
Mfonobong Nsehehttps://www.jozigist.co.za
Mfonobong Nsehe is currently Nigeria and Kenya advisor to Pilot Fish Media. He is also the CEO of Hodderway Group, a Kenyan-based private limited liability company focused on brokering and delivering attractive, large-ticket transactions in Africa to select blue chip international investment partners. He travels extensively across Africa every year, meeting and interviewing the continent's wealthiest entrepreneurs and tallying their net-worth for Forbes' annual rankings of the World's Richest People and Africa's Richest People. He is also a contributing writer for Jozi Gist. You can follow him @MfonobongNsehe and on Linkedin

African Rainbow Capital (ARC), a private investment vehicle controlled by South African mining billionaire Patrice Motsepe, has reportedly acquired an 18.4% stake in Metro Networx.

Founded in 2010, Metro Networx is a South African-owned and managed open access fibre network and broadband fibre provider based in Johannesburg. Metro Networx is a carrier class Ethernet (CE 2.0) infrastructure company providing highly managed fibre optic broadband connectivity.

 

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ARC is a subsidiary company of Ubuntu-Botho Investments (UBI), a black empowerment investment holding company created in 2004 to be the empowerment partner of Sanlam, a South African financial services company in which Motsepe owns a minority stake.

Patrice Motsepe, South Africa’s first and only black billionaire, has a current net worth of $1.26 billion according to FORBES’ Realtime billionaire scoreboard on Thursday.

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