Financial services group Alexander Forbes is in talks to sell a stake in its AfriNet unit to African Rainbow Capital, according to a source familiar with the matter. African Rainbow Capital, chaired by billionaire Patrice Motsepe, plans to use AfriNet to expand its operations outside South Africa, the source said, asking not to be identified.Motsepe, 54, the richest black South African with a fortune of $1.7-billion, started African Rainbow Capital in April with access to as much as R17-billion in capital.He plans to build a financial services company controlled by black people that spans everything from life insurance and healthcare to money management services and banking.AfriNet offers insurance and risk management services in 30 African countries.African Rainbow Capital joint CEO Johan van Zyl declined to comment.Alexander Forbes rose 4.5% before paring gains to trade 2.5% up at R6.66 yesterday in Johannesburg. The shares have gained 15% this year, giving the company a market value of R9-billion.Alexander Forbes said in March it started talks with a black-owned partner about an investment in the group's African subsidiaries and said on Monday last week that the negotiations were continuing.In the fiscal year ended March, AfriNet's profit from operations grew 23% to R74-million and its assets increased by more than 9% to R4.33-billion, according to Alexander Forbes' annual report.AfriNet's contribution to group profit has risen to 6.1% by March from 4.7% two years ago.Alexander Forbes - which had an initial public offering in 2014 after its private equity owners exited the investment - is 33% held by Marsh & McLennan's Mercer unit. ..