South African Billionaire Patrice Motsepe's Arc Battles Us Firm In 193 Million Lawsuit

ARC contests Pula Groups 193.7 million claim over a Tanzanian graphite project, seeking relief in Johannesburgs High Court.

The dispute centers on alleged breaches of non-compete and confidentiality terms tied to a 2019 graphite mining deal in Tanzania.

ARC argues the projects value is far lower, challenging Tanzanian court jurisdiction and pushing for South African legal authority.

African Rainbow Capital Investments ARC Investments, the investment firm led by South African billionaire Patrice Motsepe, has taken its fight against a R3.4 billion 193.7 million lawsuit to Johannesburgs High Court over a contested graphite mining deal in Tanzania.

The case , brought by Tanzanias Pula Graphite Partners and its parent company, Pula Group, stems from allegations that ARC and affiliated companies breached a 2019 confidentiality agreement tied to a graphite project in the Ruangwa District, over alleged breaches of non-disclosure and non-compete agreements.

The US-linked Pula Group, led by Mary Stith, daughter of former US Ambassador Charles Stith, claims that Motsepes entities violated the non-compete terms by investing in Evolution Energy Minerals, which operates the Chilalo graphite project in Tanzanias Ruangwa District.