Outsurance CEO and co-founder, Willem Roos has stepped down from his position at the insurer to join broadband and LTE-A group, Rain.<\/p>\n
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).<\/p>\n
“(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.<\/p>\n
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.<\/p>\n
Rain is the brand that relaunched in South Africa off the back of\u00a0Wireless Business Solutions in June 2017.<\/p>\n
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.<\/p>\n
It has partnered with Internet Solutions to deliver its fixed wireless broadband service, \u2018Rain to the Home\u2019 (RttH) as a Fibre or DSL alternative, coined \u2018fibre in the sky\u2019. Internet Solutions will now be offering service providers access to Rain\u2019s LTE-A network.<\/p>\n
The group has plans to offer a full mobile offering.<\/p>\n
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.<\/p>\n