African Rainbow Life to launch on 30 May


The new financial services company is set to focus on the under-serviced lower to middle-income market segment, promoting intergenerational wealth creation and the importance of legacy in all its financial education and products.

African Rainbow Life is held 51% by Sanlam Life Insurance, 26% by African Rainbow Capital Financial Services (ARC) and 23% by Siyakhula Investment Holdings – a management consortium that includes a staff, community and management trust.

Bongani Madikiza, formerly divisional managing director at Old Mutual, will serve as the company’s CEO.