Wednesday, September 30, 2020

BSE cheers Imara listing

The local financial market cheered the migration of Imara financial service from Over The Counter (OTC) trading to the venture capital board on Tuesday with prices shooting to P 12 per share.
Imara – a Swahili word for being steady fast — has been on private listing since February this year and entered the Botswana Stock Exchange (BSE) board in an upbeat mood of moving to the main board by next year.

The company chairman, Phillip Gray, pointed out that the long term objective of his company is to migrate to the main board as soon as next year.
Imara is made up of a number of specialized areas such as asset management, investment banking, advisory service and stock broking and operates in a number of countries in the region.

“A sound strategic plan, strong control and compliance procedures together with good governance provides a solid foundation for managed and controlled growth against background of vibrant but occasionally volatile markets,” Gray said in his statement.

The company’s asset management operations are sprawled across the globe with presence in Botswana, South Africa, United Kingdom, Zambia, Malawi and Zimbabwe. In Botswana is one of the seven fund management which started operation in 2003. And through its Botswana operation it has launched the African Opportunity fund which is luring in funds for targeted potentially profitable investments within the region – especially in mining.
Further, the corporate division is also advising government of Botswana and other shareholders in the proposed sale of certain shares at Botswana Ash.

“ In the short term outlook is cautiously optimistic but somewhat less certain as the group will always be buffered from time to time by global capital market developments characterized by stock market volatility and widely fluctuating volumes which could clearly impact the business.
“However, over and above these external factors there should be a strong underlying secular component to the company’s long term profit growth which derives from a ‘ management effect’ and a well thought out strategic plan for both broadening and deepening our three division,” Gray added.

The local financial market cheered the migration of Imara financial service from Over The Counter(OTC) trading to the venture capital board on Tuesday with prices shooting to P 12 per share.
Imara – a Swahili word for being steady fast — has been on private listing since February this year entered the Botswana Stock Exchange (BSE) board in an upbeat mood of moving to the main board by next year.

The company chairman, Phillip Gray pointed out that the long term objective of his company is to migrate to the main board as soon as next year.
Imara is made up of a number of specialized areas such as asset management, investment banking, advisory service and stock broking and operates in a number of countries in the region.

“A sound strategic plan, strong control and compliance procedures together with good governance provides a solid foundation for managed and controlled growth against background of vibrant but occasionally volatile markets,” Gray said in his statement.

The company’s asset management operations are sprawled across the globe with presence in Botswana, South Africa, United Kingdom, Zambia, Malawi and Zimbabwe. In Botswana is one of the seven fund management and started operation in 2003. And through its Botswana operation it has launched the African Opportunity fund which is luring in funds for targeted potentially profitable investments within the region – especially in mining.

Further, the corporate division is also advising government of Botswana and other shareholders in the proposed sale of certain shares at Botswana Ash.

“ In the short term outlook is cautiously optimistic but somewhat less certain as the group will always be buffered from time to time by global capital market developments characterized by stock market volatility and widely fluctuating volumes which could clearly impact the business.

“However, over and above these external factors there should be a strong underlying secular component to the company’s long term profit growth which derives from a ‘ management effect’ and a well thought out strategic plan for both broadening and deepening our three divisions,” Gray added.

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The Telegraph September 30

Digital edition of The Telegraph, September 30, 2020.