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62 FINANCE | African Rainbow Capital Patrice Motsepe does not need much of an introduction. Arguably South Africa’s most successful businessman, Motsepe made his fortune in the mining industry during the 1990s, before being officially named the country’s richest man in 2012. However, he has also consistently combined business entrepreneurship with philanthropy, committing half his wealth to charity in 2013 when, alongside Bill Gates and others, he joined the Giving Pledge. The latest in a long list of business ventures headed by Motsepe, African Rainbow Capital aims to bring empowerment credentials to leading South African companies in the financial sector.
The chain of investment decisions made
by Motsepe that led to the formation of African Rainbow Capital (ARC) began back in 2004, when he became the Black Economic Empowerment (BEE) shareholder in South African  nancial services group Sanlam.
To this day, Motsepe’s BEE credentials rest with his investment  rm, named Ubuntu- Botho Investments, which is owned by a wide variety of companies and groups. While his trust owns 55% of the business, 25% is held by a range of organisations from di erent provinces, women, youth, church groups and unions. The remaining 20% is owned by a community development trust.

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