African Rainbow Capital says it injected R160 million into Rain in August 2024.
The valuation of mobile network operator Rain has increased by almost R3 billion over the past year, according to the latest annual results of shareholder African Rainbow Capital Investments .
“Rain met its economic and customer service related targets, generating R2.5 billion EBITDA, resulting in fair value gain of R598 million,” Arc reported. Arc noted that these factors and the launch of its standalone 4G mobile service contributed to its performance.
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