Top investment firm warns of WhatsApp scams using billionaire Patrice Motsepe

African Rainbow Capital (ARC) has warned the public about criminals claiming to be representatives of the company to defraud victims. 

The company said the criminals are communicating with the public through WhatsApp and other social media platforms. 

ARC is an investment holding company focused on financial services and technology sectors, leveraging its BEE credentials to unlock value in South African businesses. 

The company was founded by Patrice Motsepe in 2015 to diversify his net worth, which was largely tied up in African Rainbow Minerals and Sanlam through Ubuntu-Botho Investments. 

Led by two former Sanlam executives, Johan van Zyl and Johan van der Merwe, ARC invested heavily in telecommunications and technology, as well as financial services. 

Its major investee companies include Rain, GoTyme Bank, Alexforbes, and Optasia. The company also holds small stakes in phosphate miner Kropz and smaller businesses. 

By fraudulently using the ARC name, branding, and the identities of employees and representatives, the criminals are deceiving members of the public. 

Individuals who join the criminals’ WhatsApp groups are encouraged to make regular deposits of money and are falsely promised unusually high investment returns. 

“These schemes are fraudulent and are designed to defraud unsuspecting consumers,” ARC said in a statement. 

“ARC reminds the public that it delisted from the JSE in May 2025. As a result, ARC shares are not available for public trading or investment.”

“Any person, group, website, email, or social media account claiming to offer investment opportunities in ARC shares, or promising returns linked to ARC, is acting fraudulently.”

ARC also said it is aware of scams that falsely reference its chairman, Patrice Motsepe, to lend credibility to these schemes. 

“Members of the public are advised that neither ARC nor its chairman endorses or participates in any investment schemes soliciting deposits from the public,” it said. 

“ARC does not accept investment deposits from members of the public. Any request for funds purportedly on behalf of ARC should be treated as a scam.”

The investment holding company urged members of the public to remain vigilant and report any suspicious emails, WhatsApps, websites, or social media accounts to the police. 

It warned that individuals who invest in these fraudulent schemes risk losing any money they commit.