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South Africa: African Rainbow Capital acquires majority stake in Qed Actuaries & Consultants Ltd

Friday, 26 April 2019 15:59
South Africa: African Rainbow Capital acquires majority stake in Qed Actuaries & Consultants Ltd

(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.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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