OUR SHAREHOLDERS

QED management and staff owns just under half of the QED Group which means that staff are
incentivised to deliver only the best quality work to our clients and to constantly innovate to
ensure the sustainability and growth of the business.

In 2019, African Rainbow Capital Financial Services Holdings (ARC) bought a majority
shareholding in QED. This brought about significant investment which contributed to the rapid
growth of QED over the past few years. The introduction of ARC also resulted in better
governance, a clearer strategic intent and a stronger balance sheet to pursue acquisitions of
complementary businesses locally and abroad.

The investment of ARC elevates QED to the status of the largest majority black owned actuarial firm in both South Africa and the rest of Africa and affords QED South Africa Pty Ltd level 2 B-BBEE status.

QED MANAGEMENT & STAFF 49.2%