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.

RMH expanded its investment strategy to include a property investment business alongside its 34% investment in FirstRand. This involves establishing a diversified portfolio of scalable entrepreneur-led businesses with proven track records in managing and building out property portfolios.

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