(Ecofin Agency) - South African investment firm African Rainbow Capital (ARC) has acquired majority stake in Qed Actuaries & Consultants Ltd, a consulting firm present in 17 African countries.
The volume of this transaction has not been disclosed but, it was conducted via ARC Financial Services, the financial service branch of ARC.
According to Craig Falconer, managing director of Qed, this acquisition offers ARC the opportunity to consolidate its presence in Africa while pursuing its growth strategy in European markets.
“Significant opportunities exist, in South Africa and elsewhere on the continent, to acquire strategically relevant businesses to both expand and deepen our footprint on the continent,” Craig Falconer said. The investment will also help Qed increase its staff.
African Rainbow Capital explains that by choosing the actuaries sector, it wanted to diversify its portfolio.