African Rainbow Capital Buys Control of Actuarial Firm QED
African Rainbow Capital Investments Ltd., the holding firm started by South African billionaire Patrice Motsepe, bought a majority stake of QED Actuaries & Consultants (Pty) Ltd. for an undisclosed sum to expand its footprint on the continent.
Johannesburg-based QED, which operates across 17 African countries, offers actuarial and risk management solutions to insurers, healthcare providers, pension funds, banks, regulatory and industry bodies, as well as retailers. The acquisition by ARC, which has interests spanning energy to financial services, will enable the holding company to leverage its existing investments and relationships, co-Chief Executive Officer Johan van Zyl said in a statement.
Having black shareholders in the form of ARC will allow QED to bolster its growth ambitions and give it access to capital to fund future acquisitions, QED CEO Craig Falconer said. Source: Bloomberg