After letting go of FirstRand, RMB Holdings reinvents itself as a property company

RMB's offices in Sandton.
RMB's offices in Sandton.
Gallo Images

After unbundling its entire stake at First Rand Bank, which became effective in June, the next chapter for RMB Holdings is a holding company for RMH Property.

The RMH unbundling unlocked R5.4 billion in value for shareholders and marked the end of an era concluding the partnership with FirstRand and Remgro.

Taking an interest in the unlisted property space, RMH Property has partnered with entrepreneurial management teams in the unlisted property space and seeks to instil the values and ethos that have defined the successes of RMH and RMI to date.

With the uncertainty around Covid-19, RMH said in a note to shareholders that it cannot in the near term accurately forecast what the exact impact the pandemic had on the RMH Property portfolio.

"RMH Property’s investment strategy is to generate attractive equity returns over the long term by investing in select property and property-related businesses."

After the RMH unbundling, the last remaining founders, Laurie Dippenaar and Paul Harris resigned as directors of RMH after serving on the board for 38 years.

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