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Imara in Botswana
Imara Holdings Limited (“Imara Holdings”) is domicile in Botswana
and is a management controlled African financial services group which
emerged from the African operations of Robert Fleming Holdings UK
(“Flemings”) in 2002.
Flemings entered the African market in 1993 with the acquisition of joint venture (“JV”) shareholdings in various investment banking operations throughout the region, but most notably Martin and Company in South Africa and Namibia, Edwards and Company in Zimbabwe, Stockbrokers and Fleming Asset Management (formerly Ngamiland Asset Management) in Botswana and General Brokerage in Mauritius. Flemings diversified these businesses into its three areas of key competence, namely Securities Broking, Asset Management and Corporate Finance. By 2000, Flemings had established these three service offerings in Botswana, Malawi, Mauritius, Namibia, South Africa and Zimbabwe, all with different joint venture partners, most of whom were local management. In August 2000, Flemings announced its acquisition by Chase Manhattan Bank, which immediately merged with JP Morgan. On review of its recently acquired African operations, JP Morgan announced to all of its incumbent JV partners outside of South Africa that it intended disposing of its holdings in these operations. By October 2002, the JV partners had all bought back their respective businesses and re-branded them where necessary. In doing so, the management consortium, responsible for the largest Flemings business in the region, re-branded their business as “Imara” in November 2002 and immediately incorporated the new group’s holding company, Imara Holdings, in Botswana under the I.F.S.C. The Group comprises three definitive business units, which represent Imara management’s historic key service offerings, namely Securities Trading, Asset Management and Corporate Advisory and has offices in Botswana, South Africa, Malawi, the United Kingdom and Zimbabwe.
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