Outsurance CEO steps down to join Rain

Outsurance CEO and co-founder, Willem Roos has stepped down from his position at the insurer to join broadband and LTE-A group, Rain.

Rand Merchant Investments, which owns Outsurance, made the announcement in on SENS on Wednesday, saying that Roos will only be stepping down at the end of the year (31 December).

“(Roos) remains committed to Outsurance and will support the business through this transition. He will retain his shareholding in Outsurance and remain on the board,” the group said.

Roos is relocating his family to Stellenbosch and will be taking up an executive position with the 4G+ mobile start-up business, Rain, it said.

Rain is the brand that relaunched in South Africa off the back of Wireless Business Solutions in June 2017.

The group has rolled out over 750 Sites and has a target of 2,000 by the end of the year, 5,000 by the end of 2018 and ultimately 10,000 in the coming years.

It has partnered with Internet Solutions to deliver its fixed wireless broadband service, ‘Rain to the Home’ (RttH) as a Fibre or DSL alternative, coined ‘fibre in the sky’. Internet Solutions will now be offering service providers access to Rain’s LTE-A network.

The group has plans to offer a full mobile offering.

Former FNB CEO, Michael Jordaan is a director and shareholder of Rain, while the group has also drawn investment from billionaire Patrice Motsepe, through his African Rainbow Capital (ARC), which owns a 20% stake in the company.

Read: Motsepe’s African Rainbow Capital invests in mobile network operator Rain

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Outsurance CEO steps down to join Rain