RMH was founded by South African leading businessmen GT Ferreira, Laurie Dippenaar and Paul Harris over 40 years ago. It represents the merger of Rand Consolidated Investment and Rand Merchant Bank, then owned and managed by Johann Rupert of Remgro.

Since its listing in 1993, RMH has provided shareholders with a vehicle to co-invest with the founders of FirstRand. In 2011, RMH's insurance interests were separately listed as Rand Merchant Investment Holding Limited (RMI). Since then RMH has been a dedicated investment vehicle into FirstRand, one of South Africa’s most successful financial services groups.

On 29 June 2020 RMH successfully concluded the unbundling of its interest in FirstRand, ending a partnership of 22 years.

RMH’s only asset remaining is its 100% interest in RMH Property.

RMH positions itself as a value-adding, stable and aspirational shareholder.