African Rainbow Capital buys 20% of Rain South Africa

African Rainbow Capital has acquired 20% of Rain which is a fixed mobile data network provider. Rain is currently building a LTE advanced fixed and mobile network and has already rolled out in 1,000 sites with a target of 5,000 sites in a period of 3 years. African Rainbow Capital was formed by South African billionaire, Patrice Motsepe. The amount invested was not disclosed.

 

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