Peter Olyott: CEO at Indwe Risk Services.
A joint venture between African Rainbow Capital (ARC) and Sanlam to buy shares in Indwe Broker Holdings (Indwe) has been approved. ARC will acquire a majority shareholding of Indwe, while 25% shareholding will belong to Sanlam and Santam retains 24%.
ARC is a wholly-owned subsidiary of Ubuntu-Botho Investment, Sanlam’s empowerment partner, and ARC’s directors include Mr Patrice Motsepe and Dr Johan van Zyl, former CEO of Sanlam. The vision for ARC is to become a significant black-controlled financial services player in South Africa. This is the first joint investment involving Sanlam and ARC.
“This is a hugely positive step for Indwe,” states Peter Olyott, CEO at Indwe Risk Services. “The involvement of ARC in Indwe is a significant vote of confidence in Indwe’s ability to play an important role in the future plans of ARC and the Sanlam Group.” The new direct association with Sanlam, and the continued association with Santam, also serves to enhance Indwe’s profile in the markets they currently serve, as well as new markets they are looking to become involved in.
“Our clients can look forward to a wider range of products and services, while the broker community will benefit from increased participation of Indwe in the development, support and building of a wider, more sustainable base of black brokers and advisors,” concludes Olyott.
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