Market Wrap - Stock Pick — ARC
Grant Gilburt from Nedbank Private Wealth chose African Rainbow Cap as his stock pick of the day. "We're sticking with the investment holding companies, I really like the companies that they have invested in and that they have built within the ARC stable. They have a very credible management team and some challenger businesses within that stable. So their biggest asset is Rain which is a data only mobile provider and are bringing 5G to the local market. You also have Tyme digital bank which is seemingly gaining traction but they really need to build scale in order to compete and are hitting those numbers, they are on-boarding between 3000 to 5000 clients a day so it is just a matter of time for them to gain that scale. Until then you are buying this company at a deep discount."