Imara Group Profile February 2009 - Presentation Transcript
Corporate Profile
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Mission Statement
“To grow our relationship-driven African financial
services group focused on the needs of our clients
and providing first class products and services to our
corporate, institutional and high net worth client base”
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Overview
4 A Botswana listed Financial Services Group with a regional network of offices.
4 Extensive Expertise in Africa - a pioneer in the development of African capital
markets in the past twenty years.
4 Securities Trading - active participant in region’s markets, strong research coverage
of regional equities - in excess of US$20m of client funds under management and
US$616m of client assets under administration.
4 Corporate Finance – raises capital and provides strategic advice for both large and
small companies across Africa.
4 Investment Management – in excess of US$195 million invested in Africa and
Globally for Institutional and Private Clients.
4 Independent with a wide shareholder base – significant management and staff stake
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Background
4 4 Acquisition of interest in Imara Capital Zimbabwe
Formation of S P Reid (Pty) Ltd - SA 1938 2006
4 4 Imara listed on OTC market of the Botswana Stock Exchange
Formation of Edwards & Co in Harare 1954 2006
4 4 IAOF listed on Dublin Stock Exchange
Stockbrokers Botswana and BSE established 1989 2006
4 4 IAOF registered in Botswana
Acquisition by Robert Fleming UK of Edwards & Co 1994 2006
4 4 Imara listed on the VCM of the Botswana Stock Exchange
Stockbrokers Malawi Ltd and Malawi Stock Exchange est 1996 2006
4 4 IAOF granted local asset status in Botswana
Sale of Robert Fleming UK to JP Morgan 2000 2006
4 4 Launch of the Imara Africa Series
MBO of Edwards & Co from JP Morgan 2002 2007
4 4
Formation of Imara in Botswana 2002 Nigeria Fund
4 4
Acquisition of S P Reid Mackeurtan (Pty) Ltd and The Janus Zimbabwe Fund
4 Imara Global Fund registered in Botswana
Corporation (Pty) Ltd by Imara 2003 2007
4 4 MOU signed with MacCapital Dubai
Acquisition of Anglo African Global Fund : rebranded Imara Global Fund 2003 2007
4 4 Launch of Imara Africa Securities
Acquisition of The Janus Corporation (Pty) Ltd by Imara 2003 2007
4 4 Imara Capital SA / Zingwenya BEE transaction
Launch of Asset Management businesses in Botswana & SA 2003 2007
4 4 Launch of the Imara East Africa Fund
International Financial Services Centre status granted 2004 2008
4 4 Launch of the Imara Equity Fund in SA
Acquisition of Rice Rinaldi broking book in SA 2004 2008
4 4 Launch of Imara Trust Company (Mauritius) Limited
MOU signed with Stockbrokers Zambia & Namibia Equity Brokers 2005 2008
4 4 MOU signed with Chapel Hill Denham in Nigeria
Launch of the Imara African Opportunities Fund (“IAOF”) 2005 2009
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Our Core Services
Asset Management
4 13 professional investment managers,
Corporate Finance Securities Trading
including 5 in our Zimbabwe associate,
covering Africa as well as emerging
and global markets. Sales
4 35 sales/portfolio professionals,
Leading Team
4 US$195.5m under management
including 4 in Zimbabwe,
4 11 professionals-4 in Zimbabwe
including US$38m with our associate
covering the region
4 Located in 3 Offices region-wide
in Zimbabwe.
4 Private wealth management in South Research
Corporate Finance
Africa and Botswana. 4 12 equity research analysts,
4 Mergers and Acquisitions
including 5 in Zimbabwe,
4 Strategic Advice
4 Imara Global Fund, Imara Africa Series
covering over 400 regional
4 Corporate Restructuring
& Imara African Opportunities Fund,
companies
4 Privatisations
registered in BVI, advised by FSA
4 Private Equity
licensed Imara UK.
Trading
4 Establishment of trusts, administration 4 2 Prop Traders
Capital Markets
services , incorporation of offshore 4 US$20m client funds under
4 Equity Issues
entities, opening and administering management
4 Convertible Issues
offshore bank accounts; approved by 4 US$616m client assets under
4 Debt Issues
the FSC and licensed as Imara Trust administration
Company (Mauritius) Limited
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Asset Management
4 Regional network of
sub-Saharan offices
4 13 professional
investment managers
covering African and
Global markets Johannesburg: Dave Eliot
+27 11 550 6181
4 Imara Global Fund davee@imara.co.za
.
Edinburgh. Harare: John Legat
4 Imara African London +263 4 700 000
Opportunities Fund johnl@imaracapital.com
4 Imara Africa Series – UK: Jonathan Chew
+44 776 890 3759
East Africa, Nigeria &
jon@imara.plus.com
Zimbabwe
Mauritius: Rejeev Sookur
4 US$195.5m under +230 464 9799
management rajeevs@imara.mu
..
4 Full Trust & Gaborone • Harare
•
Administration service Mauritius
Johannesburg
ex Mauritius
4 Imara Equity Fund SA
4 Imara International
Managed Fund
Regulated by:
Bank of Botswana, Financial Services Board SA, Financial Services Authority UK, Reserve Bank of Zimbabwe and the
Financial Services Commission in Mauritius.
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Target Markets
Imara Global Fund (FUM: US$5.53m)
South Africa (FUM: US$53.8m)
4Absolute return mandate
4 Focus on high margin areas 4Marketing Focus on Africa
4 Private client portfolio management
4 Unit Trust advisors - but not administrators Imara Africa Series (FUM: US$11.15m)
4 Bespoke products 4Nigeria, East Africa & Zimbabwe Funds
4Absolute return mandate
Imara Equity Fund
4 Imara African Opportunities Fund (FUM:US$87m)
General equity mandate
4Absolute return mandate
4Marketing Focus: Europe
Botswana
4Markets Imara Global Fund, Africa Series and
Zimbabwe associate (FUM: US$38m)
African Opportunities Funds
4 One of the largest pension fund and private client managers
4Focus on domestic investments
Region
4One International client mandate
4Regional mandates
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South Africa Performance
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Imara Global Fund
NAV: US$10.14 (as at 31/01/09)
Change (%) Fund MSCI World
1 Month -10.0 -8.7
Quarter -13.2 -11.8
Year to Date -10.0 -8.7
Comp Annual Return (%) with dividends reinvested
1 year -38.8 -41.1
3 years -13.5 -11.7
5 years -4.4 -2.1
10 years 3.8* -1.3
* from 10/02/99
4 Actively managed with an absolute return mandate.
Geographical Breakdown
4 Holds cash in turbulent financial markets to protect capital.
4 Advised by Imara Asset Management UK Ltd which is licensed by the FSA.
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Imara African Opportunities Fund
NAV as at 31.01.09
Gross/Net: $8.45 (-19.6%)
4 Strategy – Long Only, Equities
4 Return Objective – Absolute Return over Medium
Term (i.e. no cash limits)
4 Investment Horizon: 3-5 years
4 Listed on the Dublin Stock Exchange
4 Registered in Botswana
4 Regional Network of Regulated Offices (Botswana,
Malawi, Namibia, Zambia, Zimbabwe, South Africa,
UK)
Country %
Target Markets: Egypt, Tunisia, Morocco, Ghana, Nigeria, Kenya,
Malawi, Tanzania, Uganda, Mauritius, Namibia, Botswana, Zambia, West Africa
plus
Weighting to contrarian recovery plays e.g. Zimbabwe, a watching brief over
pre-frontier markets such as Algeria, Angola, Libya, Sudan
but
Minimal “regional exposure” to Africa (via SA, UK, Canada) or African exposure
Sector % that is correlated to world markets e.g. Egypt, SA and duel listed mining and
telecom stocks.
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The Imara Africa Series
4 A BVI licensed umbrella structure established to focus on regions and
countries.
4 Sub-funds:
Imara Nigeria Fund launched March 2007.
Imara Zimbabwe Fund launched March 2007.
Imara East Africa Fund launched January 2008.
4 Additional sub-funds planned.
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Imara East Africa Fund
NAV as at 31.01.09
Gross/Net: $6.52 (-6.9%)
4 Launched January 2008
4 Strategy – Long Only, Equities
4 Return Objective – Absolute Return over Medium
Term (i.e. no cash limits)
4 Investment Horizon: 3-5 years
4 Strong local manager - ICEA Asset Management -
first registered fund manager in Kenya in 1985
Sector %
Target Markets
Kenya, Mauritius, Tanzania, Uganda,
Plus
DRC, Burundi, Ethiopia, Rwanda, Southern Sudan
Country Allocation as at 31.01.09
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Imara Nigeria Fund
NAV as at 31 01 09:
Net /Gross : US$4.72 (-27.8%)
4 To focus on the “next’
emerging market.
Sector Breakdown
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Imara Zimbabwe Fund
NAV as at 31.01.09
Gross & Net: US$3.63 (-37.63%)
4 The World’s cheapest market.
4 Managed by Imara’s
Zimbabwe investment team.
Asset Allocation
(% gross assets as at 31 01 09)
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Imara Trust Company (Mauritius) Limited
4 Launched August 2008
4 Service offerings marketed to Imara’s African clients include:
Establishment of Trusts
Incorporation of offshore entities
Administration services
Opening and administering offshore bank accounts
4 Secure, tax efficient environment in Mauritius
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Zimbabwe Associate Pension Fund Clients
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Corporate Finance
Active in African markets – executed over 200
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transactions across 12 countries, with a combined
Branch network
transaction value in excess of US$10 billion;
.Dubai
Regional network of offices securing a premier
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position in sub-Saharan Africa.
Contacts:
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(associate) Harare.
Africa: Rod Macleod
.Johannesburg
Gaborone.
+27 11 550 6006
greatscot@imaracf.co.za
Gaborone: Dave Stone
Execution experience
+267 318 8009
dstone@imaracapital.co.bw
Johannesburg: Mike Burrell UK.
+27 11 550 6001
mikeb@imaracf.co.za
Harare: Sean Gammon
.Ghana.Kenya
.. ..Tanzani
(associate) +263 4 701 320
seang@imaracapital.com Nigeria
Guinea
.Mal
Dubai: Gerhard Hametner Uganda a
(representative) +971502892935 awi
Zambia.
sgh@mac-sharaf.com
..Swazi
Zimbabwe.
Botswana.
land
South Africa
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Corporate Finance Core Services
Transaction
Number of
Division Main sectors Countries value
mandates
(US$m)
Property, financial services,
food and manufacturing,
Capital Markets 4 52 703
agriculture,
telecommunications.
Information technology,
tobacco motor industry,
Mergers &
agriculture, manufacturing, 9 64 5,207
Acquisitions
industrial holdings and
mining.
Telecommunications,
agriculture, manufacturing
Privatisation 5 6 160
and distribution, mining and
financial services
Advisory All sectors. 12 79 4,709
Totals 12 201 10,779
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Securities Trading
4 35 Sales/Portfolio 4 2 Prop traders covering 4 12 Equity Research Analysts
Professionals covering the South Africa. covering over 400 Regional
region. Companies.
.Dubai (representative)
Office Network
.Bl
(representative) Lusaka.
.Gabor antyre (associate)
(associate) Harare.
(representative) Windhoek. one
Johannesburg.
Gaborone:
Alun Thomas
Blantyre- associate: Johannesburg:
Dubai- representative:
+267 318 8708
Mark Mikwamba Ann Mackeurtan
Gerhard Hametner
athomas@imaracapital.co.bw
+265 1 822 803
+971 50 289 2935 +27 11 550 6210
gh@mac-sharaf.com mark@sml.sdnp.org.mw annm@imaraspreid.co.za
Windhoek- representative:
Zambia- representative Harare - associate:
Madelein Smith
Charles Mate Judith Rodger-Gurr
+264 61 25 6666
+260 1 227303 +263 4 790091
msmith@namibia-equities.com
cmate@stockbrokerszambia.com judithr@imaracapital.com
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Securities Philosophy
4 Research driven
4 Research Capacity Located in Region (i.e. outside South Africa)
4 Selective Distribution; Client-Centred
4 Company Focused, Bottom-up
4 Research Orientated to Add Value to Clients;
4 Experienced & Professional Execution
4 Sales Trading Team with Considerable Experience;
4 Corporate Broker-of-Choice – in Regional Markets ex-South Africa.
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South Africa – Imara S P Reid
Established in 1938
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29 experienced Sales/Portfolio Professionals & 2 Prop Traders
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5 Equity Analysts
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US$20m client funds under management
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US$616m client assets under management
4
Covering:
Large high net-worth Private Client base
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General research of SA market and specialists in research of SME market and the property sector.
4
Derivatives
4
Institutional Clients
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Custody, settlement and trading member fully approved by the JSE
4
Has a highly efficient back-office which offers specialist services
4
Strong and efficient on-line trading capability via the Imara S P Reid web-site
4
On-line research updated daily
4
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Interactive Website – South Africa
4Growing acceptance - plus 9000 registered clients.
4Depth of information – historical news, research, charts, pricing, full portfolio information.
4On-line trading.
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Zimbabwe – Imara Edwards Securities
4 Established in 1954
4 Recognised market leader with a 20% market share
4 4 experienced Equity Dealers
4 2 Treasury Dealers
4 5 Equity Analysts
Covering:
4 Large Private Client book in excess of 25 000 clients
4 Strong Local and International Institutional client base
4 Extensive Macro and Micro Research
4 On-line research available daily
4 Efficient back office settlement and clearing
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Imara Africa Securities
4 A “one stop shop” Broking service in Sub-Saharan equity markets excluding South Africa
4 Multi-country dealing facility based in Gaborone, Botswana
4 Utilise existing expertise and relationships with stockbrokers on the ground to provide macro and
micro research capacity and up to date company information
42 Equity Analysts
42 experienced Equity Dealers
4Countries currently serviced include :
Botswana, BRVM, Ghana, Kenya, Malawi, Mauritius, Namibia, Nigeria, Uganda, Zambia
and Zimbabwe
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Selected Sponsorship Credentials – Africa
Client Country Transaction Date completed Size US$m
Meikles Africa Limited Zimbabwe/UK Acquisition 2008 75
NBS Bank Limited Malawi Privatization, capital raise & listing 2007 3
National Merchant Bank Limited Zimbabwe Capital raise 2006 4
First Merchant Bank Limited Malawi Capital raise & listing 2006 4
Delta Corporation Limited Zimbabwe Acquisition 2005 2
Kingdom Financial Holdings Limited Zimbabwe Capital raise 2005 17
Innscor Africa Limited Zimbabwe Acquisition 2005 6
Rio Tinto Zimbabwe Limited Zimbabwe Restructuring 2004 10
BAT Zimbabwe Limited Zimbabwe Disposal 2003 5
Zimbabwe Sun / Dawn Properties Zimbabwe Demerger & listing 2003 20
Delta Corporation Limited Zimbabwe Demerger & listing 2002 33
Schweppes Zimbabwe Limited Zimbabwe Minority buy out & delisting 2000 8
Rothmans / BAT Zimbabwe Merger 2000 25
ABC Holdings Limited Zim/Botswana Merger & dual listing 2000 33
Old Mutual Zim/Malawi Demutualisation & dual listing 1999 194
Press Corporation Limited Malawi/UK Capital raise & dual listing 1998 61
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Strong in Regional Capital
Market Development
Swaziland Malawi Seychelles
Botswana
1990
1989 1995 2000
Adviser Adviser Adviser
Adviser
to to to
to
the BDC the Reserve Bank of Malawi the IFC
the Reserve Bank of Swaziland
for for regarding
regarding
the formation of the BSE the formation of the MSE the regulatory framework
the regulatory framework
and and for
for
Stockbrokers Botswana Ltd Stockbrokers Malawi Limited the Seychelles Stock Exchange
the Swaziland Stock Exchange
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Imara’s Board
Philip Gray, MA DMS TEP FSTA MSIP MHKSI – Non Executive Chairman
Philip Gray has over thirty years experience in all aspects of investment banking, particularly asset management and securities trading.
Philip has held positions as Executive Chairman of HSBC Securities (Asia) Limited, Chief Executive of GT Management (Asia) Limited and
Chief Executive of GT Management (UK) Limited. In addition, he has been Chairman of a number of professional bodies. He holds an MA
in Marketing, a Diploma in Management Studies and various other postgraduate diplomas. He is a Fellow of The Society of Technical
Analysts, a member of The Society of Trust and Estate Practitioners, The Society of Investment Professionals and The Hong Kong
Securities Institute.
Mark Tunmer, BA LLB LDM - Chief Executive
Mark Tunmer has in excess of 20 years of broking and advisory experience and has personally been involved in raising over US$450
million in Sub-Saharan capital markets through overseeing numerous listings, privatisations and rights issues on regional stock
exchanges. In addition, Mark has advised the Reserve Bank of Malawi on the establishment of the Malawi Stock Exchange, the Botswana
Government on the establishment of the Botswana Stock Exchange and the formulation of the Botswana Stock Exchange Act, Rules and
Regulations and the Swaziland Government on the establishment of the Swaziland Stock Exchange. Mark has participated and continues
to be actively involved on various regional capital markets regulatory and related bodies. He is a Director of the Malawi Stock Exchange
and a former Chairman of the Zimbabwe Stock Exchange.
David Stone, BCom – Group Finance Director
Dave Stone has over 15 years experience in the financial services sector at director and executive management level, primarily within the
southern African region. During the past decade he has played a leading role in the expansion and consolidation of regional banking
operations, initially for the udc Group of companies and latterly for African Banking Corporation.
Adam Fleming – Non Executive
Adam Fleming joined the investment bank, Robert Fleming in 1970. He worked for Jardine Fleming in the Far East in the 1970’s and
joined Robert Fleming’s main board in 1985. He moved to South Africa in 1991 to open and expand the group’s offices in Southern Africa.
Adam is a former Deputy Chairman of Robert Fleming Holdings and previously Chairman of Harmony Gold. He is currently Chairman of
Witwatersrand Consolidated Gold Resources Limited.
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Imara’s Board
Ann Mackeurtan – Executive – Country Head South Africa
Ann Mackeurtan joined SP Reid in 1968. In 1974, her father, Stanley Reid, died and she and George Mackeurtan took over running the
business. In 1976, Ann wrote the Johannesburg Stock Exchange exams and on passing became the first women member of the JSE.
She is currently Managing Director of Imara SP Reid (Pty) Ltd.
Roger Matthews – Non Executive
Roger Matthews was the Founder and Managing Director for 10 years, until October 2006, of the Obelisk International Trust Group, a
group of private companies based in the Channel Islands which specialised in corporate, trust and collective investment schemes
including consulting, management and administration services. Obelisk was sold to the Beresford Group in March 2007 for whom Roger
now works as a consultant. After studying at Oxford and Aston Universities, Roger trained as an accountant. He worked in the offshore
banking, finance and trust industry for 35 years, holding various executive positions with major international banks including the Bank
of Bermuda and Royal Bank of Canada. He has worked in Bermuda, Hong Kong, Luxembourg, Guernsey and Jersey. He serves as a
director of several international investment management group’s offshore structures and offshore mutual funds and was the Vice
Chairman for 8 years of the Society of Trust and Estate Practitioners in the Channel Islands. He was the inaugural Chairman of the
Guernsey Fund Managers Association.
Roderick MacLeod, BCom LLB CAIB (SA) HDip FMiI – Executive - Head of Corporate Finance
Rod MacLeod is a Certified Associate of the Institute of Bankers. He joined Barclays Bank, being promoted to Barclays Merchant Bank in
1982 and then seconded to the London office in 1985. On his return to South Africa in 1988, Rod was appointed as Senior Advisor at
FirstCorp dealing with M&A, MBO and private equity opportunities. In 1990, Rod joined AP&CI responsible for the Group’s acquisition
growth strategy. He joined Janus as a director and shareholder in 1995.
John Legat, BA (Hons) Economics - Executive - Head of Asset Management
John Legat heads up the Asset Management operations of the Imara Group. He is based in Zimbabwe where he is also the chief
executive of Imara Asset Management Zimbabwe which he established in 1998. This business is currently one of the leading pension
fund and private client asset managers in Zimbabwe. John has extensive global experience gained from his thirteen years at GT Asset
Management (UK) Ltd where he specialised in European equities before joining the Global Emerging Markets team at GT in 1990. In
1995 he launched and managed the GT Africa Fund, one of the first mutual funds of its kind. He is the manager of the Imara African
Opportunities Fund and the Imara Africa Series.
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Imara’s Board
Michael Ndoro – Non Executive
Mike is a director of Imara Capital Zimbabwe (Private) Limited and the Imara Africa Opportunities Fund. He is currently the Managing
Director of Interfoods (Pvt) Limited, Zimbabwe. After graduating with a degree in Agricultural Economics, Mr Ndoro spent a large part of his
industrial career with the Coca- Cola Company of Southern Africa whom he joined in 1995, with responsibility for marketing within the
region. In 2002, he was appointed by Coca- Cola as the managing director of Schweppes Zimbabwe. In 2004 he became Chief Executive of
Tedco Limited a furniture company listed on the Zimbabwe Stock Exchange. In late 2004, he bought into Interfoods, a fruit and canning
business. Mr Ndoro has also served as a non-executive director of Interfresh Limited, a company listed on the Zimbabwe Stock Exchange.
Gary Johns – Non Executive
Gary Johns, a Botswana citizen, joined the banking industry in 1974. He worked in Zimbabwe for Standard Chartered Bank and ANZ
Grindlays Bank before joining finance house UDC Limited in 1989 . Gary moved to Gaborone, Botswana in 1991 to manage the UDC
business in Gaborone. In 2000 UDC Limited was merged into African Banking Corporation where he continued to manage the asset finance
portfolio. In 2004 Gary left the bank to set up a private finance and insurance consultancy business.
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Divisional Executives
Asset Management – South Africa
David Eliot, BCom - CEO
David Eliot joined SP Reid & Mackeurtan (Pty) Ltd in February 2003 as a director in charge of Wealth Management – in 2004 he was
asked to head the launch of Imara Asset Management in SA where after he was appointed as Managing Director. Prior to that he was
Deputy Managing Director and Chief Operating Officer of BoE Personal Stockbrokers (Pty) Ltd which was a split off from BoE Securities
where David was a Director in charge of Private Client and Fund Management between 1996 and 2000. Between 1981 and 1996, he
was Chief Investment Officer of First National Asset Management & Trust Company (Pty) Ltd.
Hannes Barnard, CFPTM N.H.D. Electrical Engineering
Hannes Barnard prior to joining Imara in 2004, he spent 9 years in the broad investment and stockbroking industries as an
independent financial advisor, the last four years as a Financial Services Board registered investment manager, managing his financial
advisory and portfolio management business.
Mark Cunningham, BCom, CFPTM
Mark Cunningham has spent the past 14 years in the Financial Planning Industry. He brings substantial experience in Employee
Benefits, Individual Financial Planning and Personal Portfolio management. He has worked for organisations such as Liberty Life,
Glenrand MIB and Nedbank before joining Imara.
Mariette Leitch, BCom Acc, Fpi-RFP
Mariette, prior to joining Imara Financial Services (a division of Imara Asset Management) in June 2007, spent 15 years in the Financial
Services Industry. She worked for organizations such as Fedsure Asset Management and as an Investment Marketing Manager at Old
Mutual (Fairbairn Capital) until February 2004 after which she started her own independent financial advisory. She has extensive
experience in the financial planning & investment industries.
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Divisional Executives
Asset Management UK
Jonathan Chew, BSc – Africa
Jon Chew graduated from Loughborough University with a BSc in Management Sciences. He worked as an investment analyst
covering the Far East in the early 1980’s and then as a portfolio manager covering Asia ex-Japan with GT Asset Management
from the mid 1980’s. In 1989 he became the CIO of Global Emerging Markets for GT. Between 1989 and 1997 Jon’s team was an
active investor in most of the emerging markets around the world including Africa as they opened for foreign investment. From
1997 and the creation of Imara, he worked with John Legat managing a global emerging market Fund. Jon’s current focus is on
the Imara African Opportunities Fund where he covers North and West Africa for the investment team, the top-down for the
whole of Africa as well as the team’s marketing efforts outside of Africa.
Evan Green, BCom – Global
Evan Green commenced his career in March 1995 as Investment Manager at Syfrets Corporate And Merchant Bank. Between
February 1997 and April 1998, he was Head of Research at Sagit Stockbrokers in Harare, moving to Fleming Martin Edwards
Securities in June 1998 as Equity Analyst on the Industrial Holdings, Retail, Financial, Tobacco and Telecom sectors of the
Zimbabwe Stock Exchange. In April 1999, Evan joined General Brokerage (Flemings Mauritius) as General Manager before being
transferred to JP Morgan (South Africa - formerly Fleming Martin) in April 2000 as Senior Equity Analyst covering the diversified
Industrials and Packaging sectors on the JSE. Between July 2001 and October 2001, Evan was a consulting Analyst to the Luxury
Goods and Apparel Retail Sectors with JP Morgan (London). Evan joined Imara in 2003.
Securities - Africa
Alun Thomas BA(Hons) Acc C.A.(Z) - CEO Imara Africa Securities – Country Head Botswana
Alun Thomas was educated in Zimbabwe and went to the University of Kent at Canterbury in the United Kingdom where he
graduated with honours in Accounting. He went on to serve articles with Deloitte’s and qualified as a Chartered Accountant in
1985.In his career in commerce and industry Alun first joined the agro- industrial company, William Bain where he was Group
Accountant. He then joined the SAB Miller subsidiary, Delta Corporation in their tourism and hotel company, Zimbabwe Sun
Limited. Here he held executive positions in both finance and operations. In recent years he has been working in the field of
offshore investment and financial planning for private clients.
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Divisional Executives
Securities - South Africa
Neil Burnett, BCom – Imara SP Reid
Neil Burnett joined Barclays in 1976 after graduating from the University of Natal. He has the Institute of Bankers in SA’s Diploma, is a
member of the JSE, has passed the JSE Compliance Officer Exam and is currently Imara SP Reid’s Compliance Officer. Neil was
previously a partner of both stockbrokers Mennell Jack Hyman Rosenberg & Co (Pty) Ltd. and Rice Rinaldi and Co. He joined SP Reid
& Mackeurtan (Pty) Ltd as a director in 1985.
Justin Mackeurtan, BA (Hons) - Imara SP Reid
Justin Mackeurtan completed his A level examinations at Eton, going on to do BA (Hons) Financial Services degree at the University of
the West of England. He joined SP Reid full time in August 1996. He has passed his Johannesburg Stock Exchange Stock Broking,
Settlement Officer and Compliance Officer Exams. He is currently a director of Imara SP Reid and responsible for the administration
function.
Guy Algeo, BCom – Imara SP Reid
Guy Algeo began his career with Alexander Forbes and thereafter joined BoE Personal Stockbrokers where he held a directorship for
three years. In February 2003 he joined Imara SP Reid. Guy has extensive experience in all areas of investment management and has
focused on the implementation of business systems. After establishing online share trading systems at Imara SP Reid, his
responsibilities shifted to building up the derivative operations.
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Divisional Executives
Corporate Finance
Mike Burrell, CA, Hons. BCompt – Head of Corporate Finance South Africa
Mike was previously an executive director of the New Republic Bank and also held senior positions at Mercantile Bank. He holds a
Diploma in Advanced Banking. Mike joined Imara after being self-employed for a number of years and has been involved in numerous
corporate finance and investment banking transactions, both from a listed and an un-listed perspective in South Africa.
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Imara Holdings is a Botswana listed Financial Servi more
Imara Holdings is a Botswana listed Financial Services Group with a regional network of offices. Imara has extensive expertise in Africa - a pioneer in the development of African capital markets in the past twenty years. less
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