The Botswana Stock Exchange has approved the application of the Imara financial services group for a listing on its Venture Capital Market (VCM).
Mark Tunmer, Imara’s group CEO, announcedFriday that all necessary approvals had been received from the Botswana Stock Exchange and the listing of the Imara share on the VCM board would take place on October 4.
Tunmer added: “We are delighted to receive the approval of the authorities. Imara consultants helped to create the Botswana Stock Exchange some 17 years ago. It will be a proud day for the group when we take a place on the Exchange we helped to put in place.”
After nearly four years of consistent growth, the Gaborone-registered company has become a prominent member of Botswana’s financial service sector, and its increased regional presence, fully justifies its licencing in the International Financial Services Centre (Offshore Centre) in Botswana.
In addition to Gaborone, Imara has offices and affiliates in Johannesburg, Harare, London, Edinburgh, Blantyre, Windhoek and Lusaka.
The group is made up of investment banking, advisory services, stock broking and asset management divisions.
Its shares have traded on Gaborone’s over the counter market since February. In six months, the share price has appreciated from P7.80 to more than P11,50.