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Our opinion on the current state of ARCINVEST(AIL)African Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since its formation, AIL has invested in more than forty listed and unlisted investments across a wide range of industries, including telecommunications, mining, construction, energy, property, agriculture, insurance, asset management, and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Botha Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, AIL has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital, which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain, and Kropz. These investments are seen as disruptive in their sectors but will take time to mature. It also owns 7% of Afrimat, having reduced its stake from 18.4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need for most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV. It was 59% of its NAV after falling about 25% in the last six months to 2023. The discount makes it good value and may result in "unbundling" some of that value into the hands of shareholders in due course. The directors have said that they will consider delisting from the JSE if the discount persists because the listing cannot be used to raise further capital at current share prices. On 21st November 2023, the company announced a rights issue to raise R742.35m. Shareholders will get 11.06579 new shares for every 100 shares they hold at a 7.32% discount to the volume-weighted average price on 10th November 2023. In its results for the six months to 31st December 2024, the company reported net asset value (NAV) up 3.2% to 1278c per share. The company said, "Rain - strong performance of rainOne and Rain mobile offerings. TymeBank – 10.7 million customers and increased activity per customer. Tyme Global – GOtyme customer base has more than doubled to 5 million. Alexforbes – strong share price performance on the back of solid results and a positive outlook." The company announced that it will be delisting from the JSE, and shareholders are offered 975c per share, which is a 22.8% discount to the NAV. Technically, the share was falling since March 2023. We recommended applying a 200-day moving average and waiting for a clear upside break before investigating further. That break came on 26th April 2024 at 544c per share. The delisting offer means that anyone who acted on that suggestion made a capital gain of 79% in just under one year.
JSE:AIL
by PDSnetSA
Our opinion on the current state of ARCINVEST(AIL)African Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since it was formed, AIL has invested in more than forty listed and unlisted investments in a wide range of industries from telecommunications to mining, construction, energy, property, agriculture, insurance, asset management and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Booth Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, it has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain and Kropz. These investments are seen as disruptive in their sectors, but will take time to mature. It also owns 7% of Afrimat having reduced its stake from 18,4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV. It was 59% of its NAV after falling about 25% in the last six months to 2023. The discount makes it good value and may result in "unbundling" some of that value into the hands of shareholders in due course. The directors have said that they will consider delisting from the JSE if the discount persists because the listing cannot be used to raise further capital at current share prices. On 21st November 2023 the company announced a rights issue to raise R742,35m. Shareholders will get 11,06579 new shares for every 100 shares that they hold at a 7,32% discount to the volume-weighted average price on 10th November 2023. In its results for the year to 30th June 2024 the company reported that its intrinsic net asset value (NAV) increased by 8,5% to 1238c per share while Tymebank and Linebroker achieved break-even. Rain which is 26% of the total portfolio is the most preferred network in South Africa. The total value of listed and unlisted investments was R20,2bn. In an update on 10th December 2024 the company said, "Rain has reported a successful quarter marked by significant growth in mobile customers. Kropz continues making progress at both Kropz Elandsfontein and Cominco. The Bluespec Group continues to be a strong performer within the business process outsourcing (BPO) pillar of the ARC Fund. Consumer Friend, the biggest business unit in the Upstream Group, took two prestigious awards at this year's Debt Review Awards. The Agri portfolio's overall financial performance remains in line with projections. Tyme Group continues its strong growth trajectory, with 14.4 million customers across TymeBank (10m) and GoTymeBank (4.4m) as of September 30, 2024." The share still trades for 62% of it NAV. Technically, the share has been falling since March 2023. We recommended applying a 200-day moving average and waiting for a clear upside break before investigating further. That break came on 26th April 2024 at 544c per share. Since then the share has moved up to 767c.
JSE:AIL
by PDSnetSA
Our opinion on the current state of ARCINVEST(AIL)African Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since its inception, AIL has invested in more than forty listed and unlisted investments in a wide range of industries, from telecommunications to mining, construction, energy, property, agriculture, insurance, asset management, and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Booth Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, it has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital, which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain, and Kropz. These investments are seen as disruptive in their sectors but will take time to mature. It also owns 7% of Afrimat, having reduced its stake from 18.4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV. It was 59% of its NAV after falling about 25% in the last six months to 2023. The discount makes it good value and may result in "unbundling" some of that value into the hands of shareholders in due course. The directors have said that they will consider delisting from the JSE if the discount persists because the listing cannot be used to raise further capital at current share prices. On 21st November 2023, the company announced a rights issue to raise R742.35m. Shareholders will get 11.06579 new shares for every 100 shares that they hold at a 7.32% discount to the volume-weighted average price on 10th November 2023. In its results for the year to 30th June 2024, the company reported that its intrinsic net asset value (NAV) increased by 8.5% to 1238c per share, while Tymebank and Linebroker achieved break-even. Rain, which is 26% of the total portfolio, is the most preferred network in South Africa. The total value of listed and unlisted investments was R20.2bn. The share still trades for much less than 60% of its NAV. Technically, the share has been falling since March 2023. We recommended applying a 200-day moving average and waiting for a clear upside break before investigating further. That break came on 26th April 2024 at 544c per share. Since then, the share has moved up to 727c.
JSE:AIL
by PDSnetSA
Our opinion on the current state of ARCINVEST(AIL)African Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since its formation, AIL has invested in more than forty listed and unlisted investments across a wide range of industries, including telecommunications, mining, construction, energy, property, agriculture, insurance, asset management, and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Botha Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, AIL has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital, which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as TymeBank, Rain, and Kropz. These investments are seen as disruptive in their sectors but will take time to mature. It also owns 7% of Afrimat, having reduced its stake from 18.4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV. It was 59% of its NAV after falling about 25% in the last six months to 2023. The discount makes it good value and may result in "unbundling" some of that value into the hands of shareholders in due course. The directors have said that they will consider delisting from the JSE if the discount persists because the listing cannot be used to raise further capital at current share prices. On 21st November 2023, the company announced a rights issue to raise R742.35 million. Shareholders will get 11.06579 new shares for every 100 shares that they hold at a 7.32% discount to the volume-weighted average price on 10th November 2023. In its results for the six months to 31st December 2023, the company reported intrinsic net asset value (NAV) up 12.9% to 1115c per share. The company said, "ARC Fund acquired investments amounting to R632 million, as part of its strategy to support the existing investments where there are expansion plans and to grow financial services. These transactions included additional investments in Rain, Tyme Global, and Kropz. The ARC Fund’s net fair value gains amounted to R784 million. The main driver in these gains is an increase from the Financial Services portfolio." In an update for the three months to 31st March 2024, the company reported steady growth in RainOne and sales of 80,771 tons of phosphate concentrate at Kropz. Bluespec performed as expected, and Ooba maintained market share. The company said, "The Tyme Group has a customer base of 12.4 million across South Africa and the Philippines, with 9.2 million TymeBank customers and 3.2 million GoTymeBank customers. The group onboards approximately 450,000 new customers monthly, with 250,000 for GoTymeBank and 200,000 for TymeBank." The share still trades for much less than half its net asset value (NAV). Technically, the share has been falling since March 2023. We recommended applying a 200-day moving average and waiting for a clear upside break before investigating further. That break came on 26th April 2024 at 544c per share. Since then, the share has moved up to 570c. Overall, African Rainbow Capital appears to be an undervalued investment holding company with a diverse portfolio and significant potential. However, investors should be aware of the company's broad focus and potential volatility. The recent rights issue and improvements in key investments suggest a positive outlook.
JSE:AIL
by PDSnetSA
Our opinion on the current state of AILAfrican Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since it was formed, AIL has invested in more than forty listed and unlisted investments in a wide range of industries from telecommunications to mining, construction, energy, property, agriculture, insurance, asset management, and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Booth Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, it has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain, and Kropz. These investments are seen as disruptive in their sectors, but will take time to mature. It also owns 7% of Afrimat having reduced its stake from 18.4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV. It was 59% of its NAV after falling about 25% in the last six months to 2023. The discount makes it good value and may result in "unbundling" some of that value into the hands of shareholders in due course. The directors have said that they will consider delisting from the JSE if the discount persists because the listing cannot be used to raise further capital at current share prices. On 21st November 2023, the company announced a rights issue to raise R742.35m. Shareholders will get 11.06579 new shares for every 100 shares that they hold at a 7.32% discount to the volume-weighted average price on 10th November 2023. In its results for the six months to 31st December 2023, the company reported intrinsic net asset value (NAV) up 12.9% to 1115c per share. The company said, "ARC Fund acquired investments amounting to R 632 million, as part of its strategy to support the existing investments where there are expansion plans and to grow financial services. These transactions included additional investments in Rain, Tyme Global, and Kropz. The ARC Fund’s net fair value gains amounted to R784 million. The main driver in these gains is an increase from the Financial Services portfolio." The share still trades for much less than half its net asset value (NAV). Technically, the share has been falling since March 2023. We recommend applying a 200-day moving average and waiting for a clear upside break before investigating further.
JSE:AIL
by PDSnetSA
Our opinion on the current state of AILAfrican Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since it was formed, AIL has invested in more than forty listed and unlisted investments in a wide range of industries from telecommunications to mining, construction, energy, property, agriculture, insurance, asset management and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Booth Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, it has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain and Kropz. These investments are seen as disruptive in their sectors, but will take time to mature. It also owns 7% of Afrimat having reduced its stake from 18,4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV. It was 59% of its NAV after falling about 25% in the last six months to 2023. The discount makes it good value and may result in "unbundling" some of that value into the hands of shareholders in due course. The directors have said that they will consider delisting from the JSE if the discount persists because the listing cannot be used to raise further capital at current share prices. On 20th August 2020 ARC announced that it had acquired 25% of Sanlam Investment Holdings (SIH) for R815m. In its results for the year to 30th June 2023 the company reported intrinsic net asset value (INAV) up 13,4% to 1141c per share. The company sold its remaining Afrimat shares for R486m and its RMH holding for R727m. It acquired additional shares in ARC for R664m and Kropz for R833m. The company also reported, "Rain - Successfully launched rainOne mobile service. Kropz Plc - Elandsfontein sold 120 000 tonnes of phosphate in the six months to June 2023. TymeBank and Tyme Global - Successful USD125 million capital raise". On 21st November 2023 the company announced a right issue to raise R742,35m. Shareholders will get 11,06579 new shares for every 100 shares that they hold at a 7,32% discount to the volume-weighted average price on 10th November 2023. In an update on the 3 months to 30th September 2023 the company reported the take-up of RainOne continued steadily during the quarter and Bluespec has experienced significant growth. Kropz has had a difficult quarter with flooding and heavy rains at Elandsfontein. Ooba performed well and consolidation in the Agri portfolio is going well. Tymebank has an "...annual revenue run rate of over R1.8 billion for TymeBank and R100m for GoTyme." The share still trades for much less than half its net asset value (NAV). Technically, the share completed a saucer bottom in the second half of 2020 and is now in a new upward trend. We believe that it will continue to perform well as the economy recovers and Ukraine crisis subsides, but like all commodity shares, it is suffering from the current fall in commodity prices.
JSE:AIL
by PDSnetSA
Our opinion on the current state of AILAfrican Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since it was formed, AIL has invested in more than forty listed and unlisted investments in a wide range of industries from telecommunications to mining, construction, energy, property, agriculture, insurance, asset management and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Booth Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, it has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain and Kropz. These investments are seen as disruptive in their sectors, but will take time to mature. It also owns 7% of Afrimat having reduced its stake from 18,4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV which makes it good value and it may decide to "unbundle" some of that value into the hands of shareholders in due course. On 20th August 2020 ARC announced that it had acquired 25% of Sanlam Investment Holdings (SIH) for R815m. In its results for the year to 30th June 2023 the company reported intrinsic net asset value (INAV) up 13,4% to 1141c per share. The company sold its remaining Afrimat shares for R486m and its RMH holding for R727m. It acquired additional shares in ARC for R664m and Kropz for R833m. The company also reported, "Rain - Successfully launched rainOne mobile service. Kropz Plc - Elandsfontein sold 120 000 tonnes of phosphate in the six months to June 2023. TymeBank and Tyme Global - Successful USD125 million capital raise". On 21st November 2023 the company announced a right issue to raise R742,35m. Shareholders will get 11,06579 new shares for every 100 shares that they hold at a 7,32% discount to the volume-weighted average price on 10th November 2023. In an update on the 3 months to 30th September 2023 the company reported the take-up of RainOne continued steadily during the quarter and Bluespec has experienced significant growth. Kropz has had a difficult quarter with flooding and heavy rains at Elandsfontein. Ooba performed well and consolidation in the Agri portfolio is going well. Tymebank has an "...annual revenue run rate of over R1.8 billion for TymeBank and R100m for GoTyme." The share still trades for much less than half its net asset value (NAV). Technically, the share completed a saucer bottom in the second half of 2020 and is now in a new upward trend. We believe that it will continue to perform well as the economy recovers and Ukraine crisis subsides, but like all commodity shares, it is suffering from the current fall in commodity prices.
JSE:AIL
by PDSnetSA
Our opinion on the current state of AILAfrican Rainbow Capital (AIL) is a BEE investment company that was formed in 2015 and listed on the JSE in September 2017. Since it was formed, AIL has invested in more than forty listed and unlisted investments in a wide range of industries from telecommunications to mining, construction, energy, property, agriculture, insurance, asset management and banking. ARC Investments is 44.4% effectively owned by African Rainbow Capital Proprietary Limited (ARC), which in turn is 100% owned by Ubuntu-Booth Investments Proprietary Limited (UBI). UBI effectively owns 51.2% of ARC Investments. AIL is thus owned through Ubuntu-Botha Investments by the Motsepe family through their trusts. In the South African context, it has a significant advantage in finding suitable companies in which to invest because it can offer them a solid, reliable BEE shareholder. AIL has benefited from an investment by Sanlam and owns a stake in the Sanlam subsidiary, Santam. The company acquired 100% of TymeDigital which has launched a digital bank in partnership with Pick 'n Pay. It offers digital banking, especially for those who cannot afford normal banking, via their phones, and had the distinction of being the only bank in South Africa not to charge transaction fees. It competes with other new banks in South Africa like Discovery Bank and Bank Zero. AIL has taken a hit on its investment in EOH (which may now be improving) but has done well in most other areas. Roughly half of the AIL portfolio is in what it describes as "early lifestyle stage businesses" such as Tymebank, Rain and Kropz. These investments are seen as disruptive in their sectors, but will take time to mature. It also owns 7% of Afrimat having reduced its stake from 18,4%. If there is a criticism of this investment holding company, it must be its lack of focus. It appears to be invested in a very diverse range of industries without significant synergies or economies of scale. The need of most South African companies to have a stable BEE partner gives it an edge in finding and negotiating good deals, but its lack of focus may eventually become a problem. The share trades at a fraction of its intrinsic NAV which makes it good value and it may decide to "unbundle" some of that value into the hands of shareholders in due course. On 20th August 2020 ARC announced that it had acquired 25% of Sanlam Investment Holdings (SIH) for R815m. In its results for the year to 30th June 2023 the company reported intrinsic net asset value (INAV) up 13,4% to 1141c per share. The company sold its remaining Afrimat shares for R486m and its RMH holding for R727m. It acquired additional shares in ARC for R664m and Kropz for R833m. The company also reported, "Rain - Successfully launched rainOne mobile service. Kropz Plc - Elandsfontein sold 120 000 tonnes of phosphate in the six months to June 2023. TymeBank and Tyme Global - Successful USD125 million capital raise". On 21st November 2023 the company announced a right issue to raise R742,35m. Shareholders will get 11,06579 new shares for every 100 shares that they hold at a 7,32% discount to the volume-weighted average price on 10th November 2023. The share still trades for much less than its net asset value (NAV). Technically, the share completed a saucer bottom in the second half of 2020 and is now in a new upward trend. We believe that it will continue to perform well as the economy recovers and Ukraine crisis subsides, but like all commodity shares, it is suffering from the current fall in commodity prices.
JSE:AIL
by PDSnetSA
ARC Investments falling wedge breakout false or sustainable?After falling to lows of R1.92 in March 2020, JSE:AIL began its upward journey and got caught in a trading range between R4.72 and R8.00 from November 2021. The share closed at R6.01 yesterday after breaking out of a falling wedge it had been painting from 30th March 2023 within the trading range. The first signal of a build up of bullish momentum was when price painted lower lows between 26th July 2023 and 23rd August 2023 while the DAILY RSI was painting higher lows, a clear bullish divergence. Looking at the currrent breakout, price closed at R6.17 on Friday the 15th of Sep, closing well above the 50 Day EMA and had some profit taking on Moday the 18th which saw the R6.01 close, still slightly above the 50 Day EMA. The 21 Day EMA has still not yet crossed over above the 50 Day EMA however it is pointing up.The Daily RSI is pointing down around the neutral zone but is above its smoothing line. So long as price finds support around R5.88, we could see a strong bullish break of R6.17 which could see price journey to test R8.00 levels and reach further to R9.10. Aggressive long entries could be taken as R6.17 is broken and conservative long entries would be after the 21 Day EMA crosses the 50 Day EMA, which will most likely be above R6.41. if the zone around R5.88 fails as support and turns into a resistance, the instrument could see price tumble to R5.20 and lower to R4.72 ~ R4.95.
JSE:AILLong
by Source_Sailor
JSEAIL Showing upside to come in the last two years to R11.00Box Formation has occured with JSEAIL. Technically, this looks like one of those bullish Penny Stocks that is nearly ready to rocket. There are higher lows forming, strong flagpole and we are seeing other indicators showing upside including. Price >200 RSI>50 Target R8.00 right to the top of Box formation. Target 2 - R11.00 - If the price breaks up and out of the pattern. It's one of those great Penny Stocks technically to just hold and leave alone with risk management principles in place. ABOUT THE COMPANY African Rainbow Capital Investments Ltd (ARC Investments) is a capital raising and investment entity incorporated in Mauritius. ARC Investments was founded by Patrice Motsepe, a South African billionaire businessman. The company is part of African Rainbow Capital (ARC), a larger investment holding company also founded by Motsepe. ARC Investments focuses on the South African and broader African economic market, with a specific focus on sectors such as financial services, telecommunications, mining, and agriculture. The company's investment strategy is driven by its commitment to black economic empowerment and inclusive growth in South Africa. ARC Investments looks for opportunities to achieve long-term capital appreciation, income generation and benefits from business synergies and strategic partnerships. ARC's financial services investments include interests in the life insurance, healthcare, asset management, specialist risk and short-term insurance industries. The company also invests in property, diversified investments, and telecoms (Rain), among others. African Rainbow Capital owns a controlling stake in TymeBank, a South African digital bank.
JSE:AILLong
by Timonrosso
AIL Long Digital bank TymeBank has launched its first credit card as part of a growing push to attract more middle-income customers. The Visa credit card is being offered in partnership with RCS and is part of the bank’s intent to diversify its customer profile, said TymeBank chief executive Tauriq Keraan. “The card has been in the pipeline for some time, but we thought long and hard about timing, particularly given the challenging consumer environment. That said, a credit card is a secure, convenient method of payment that can add value to your budget and lifestyle, provided it is used responsibly,” he said. Keraan said TymeBank will ensure cardholders are armed with all the information they need to get the best out of their credit card while managing their debt.
JSE:AILLong
by GoldManRay_