INVESTMENT company Rand Merchant Insurance (RMI) has set aside R2bn to invest in new financial services firms, and in partnership with Royal Bafokeng Holdings is looking to take equity stakes in black-owned asset management groups aiming for growth
RMI CEO Herman Bosman said this was part of plans to diversify its holdings beyond Discovery (Their US Subsidiary), MMI, OUTsurance and RMB Structured insurance.
"For next-generation businesses, we will invest R1bn. So far we have looked at about 50 of these next-generation businesses," Mr Bosman said. As part of its strategy, RMI is looking to diversify into the asset management space, having started RMI Investment Managers, headed up by Chris Meyer, the former CEO of RMB Morgan Stanley. On plans for black-owned asset management companies, Mr Meyer said Royal Bafokeng and RMI were looking to appoint a black CEO (Figurehead) who would head the division, targeting black-owned money managers.
Citizens United and stealth Conservative Politics conjoined.
A Foreign Company run by Conservatives stealthily injecting itself as a voice and Powerbroker in the African American Community.