| When it released its annual results just over two months ago, Rand Merchant Bank Holdings outlined plans to diversify its income streams, including possible investments in businesses with entrepreneurial and industry-disruptive management teams. To me, at the time, it seemed that the founders of RMH were looking for people just like themselves. They started the investment group that grew FirstRand into SA's biggest bank by market value, taking risks in disruptive businesses like Discovery. Something has clearly changed since September. Yesterday, RMH and Remgro both announced plans to distribute their shares in FirstRand to shareholders. RMH then plans to monetise its fledgling property portfolio and then delist from the JSE. It gave no reason for its change of plans. RMH has been punted by some as a cheap entry point to FirstRand. The trouble is, the discount never seems to narrow in many of these investment holding companies. Existing investors will now get their hands on its FirstRand shares, minus the costs associated with the restructuring. Also in today's newsletter, Coronation Fund Managers says negative net investment flows for the year to end-September are symptomatic of the wider savings industry and Rhodes Food has lifted its dividend by 37% following a recovery in international sales. Finally, if you want to own part of one of the most disruptive companies across the African continent, and benefit from its continued growth and success, keep on reading. Bridge Capital, a specialist advisor in the renewable energy sector, has partnered with Uprise.Africa to create an opportunity for every investor to invest in Sun Exchange. By utilising its technical capabilities, Bridge Capital makes sure that investors have the pick of the best energy projects. And by applying its financial advisory skills, its ensures the best funding mix for the projects, creating a unique advantage for investors and project developers. If as an investor you are interested in participating and investing in Sun Exchange, you can do so by creating an Uprise.Africa account right now and clicking the Invest button on the Sun Exchange investment. Click here for more on this opportunity. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
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