Wednesday, May 30, 2012

Foreign Investors Plan Zimbabwe Fund

Hong Kong-based Global Alliance Partners (GAP) concluded a two-day conference, from May 21-22,  in Zimbabwe's capital, Harare.

The meeting was hosted by GAP member Imara Holdings, a pan-African investment banking and asset management firm. Zimbabwe’s Economic Planning minister, Tapiwa Mashakada, delivered the keynote speech.

Imara Holdings Group CEO Mark Tunmer said: “Hosting the 8th semi-annual GAP Conference in Zimbabwe came at an opportune time for Imara because it is well-positioned to take advantage of the country’s expected growth rate of 9.9% this year, and share opportunities with members of Global Alliance Partners.”

GAP's board of directors also elected a new chairman, John P. O’Shea, a veteran Wall Street investment banker, who announced that some GAP members are planning to set up a fund to invest in listed Zimbabwean companies.

“We are keen to take the project off the ground and there are ongoing talks with Imara on how to structure the fund,” O’Shea said. “The Zimbabwe fund could be the model for future GAP principals and employees to get involved in emerging markets."

O'Shea explained that GAP’s cross-border capabilities cover private equity, pre-IPO placements, share trading, research, funds management, and equity placement opportunities. The organization has 14 partners in 28 countries, whose scope and reach span strategic markets in Asia, the Middle East, Europe, Sub-Saharan Africa and North America, providing a truly global platform.