Richmark Holdings, one of the leading angel investors working in South Africa, has weathered the tough economic period and come through with flying colours. Since the South African banks have developed very strict lending policies, it has been forced to narrow its focus to support only those businesses that are a perfect fit with its own core ideas. It carefully chooses companies with great promise for growth and guides them through to success.
Cellphones for Rural Regions
At the bequest of Nelson Mandela, Richmark Holdings took on the task of distributing cellphones, cellphone accessories and airtime to the residents of rural South Arica. Because of its diverse invested companies, Richmark was able to fulfill this request not only successfully, but profitably as well. Its diversity is one of the traits that puts Richmark at the top of the market and gives it an edge over its competitors.
Early Investments
When Richmark first began in business, it was with the goal of identifying promising entrepreneurs in South Africa and standing with them as they built new companies from the ground up. Most of its investments were in very early stage ideas and ventures in the telecom field. Under the leadership of experienced businessman and entrepreneur Gavin Varejas, it invested in such companies as Vocall Cellular Ltd, which is now a large Vodacom Super Dealer, and Cellfind Ltd, which realised a profitable exit to Blue Label Telecoms Ltd.
Performance Outlook
The future looks rosy for Richmark Holdings at it prepares business plans covering the next five years. It is planning to introduce its interactive touch screens through its subsidiary, BluChip. Another promising sign was the acquisition of distribution rights for Huffy and Raleigh, which are two global leaders. Thanks to the new lending restrictions, Richmark's strong market standing brings it more market opportunities than ever before.
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