Patrice Motsepe’s African Rainbow Capital (ARC) has launched another front in the South African courts over a R3.4 billion ($195 million) claim against it in Tanzania for an alleged breach of a non-compete agreement with Pula Group.
The damages claim stems from an alleged breach of a non-disclosure agreement (NDA) that gave Motsepe’s companies access to Pula’s confidential information, which was then used to invest in a rival graphite project in the Ruangwa region of Tanzania. The Motsepe companies deny the claims.