IMARA AND NIC CAPITAL SIGN COOPERATION DEAL

Pan-African financial services group, Imara has today partnered with NIC Capital Ltd, a leading Kenyan investment bank which also has a stockbroking subsidiary, NIC Capital Securities Ltd.

Under the pact, both parties will cooperate in the fields of corporate advisory and securities trading. Collaboration will also extend to investment research, an area of strength for Imara considering its base of international investors receives constant updates on developments and opportunities within Sub-Saharan markets.

NIC Bank Group Managing Director, James Macharia welcomed the cooperation as a strategic development that would give NIC Capital clients a window on a wide range of African markets.

"We are eager to pursue synergies with Imara, as our new partner has a strong reach into numerous markets across Southern, Central and West Africa," said Mr Macharia.

The agreement comes at an important juncture as both parties anticipate growing investor interest in Africa 'frontier markets' as risk appetite revives following the international credit crunch.

"Since January 2008, an East African offering has had a key place in our Africa series of equity funds focused on specific Sub-Saharan markets. Kenyan securities are a core offering within the East Africa fund," said Imara Group chief executive, Mark Tunmer as the two parties signed a memorandum of understanding.

"Furthermore, we are mindful of Nairobi's important role as regional hub. For us, developing a close understanding with a strong Kenyan partner was a strategic imperative. We are delighted to have found such a partner in NIC Capital."
Editor's notes:
About NIC Capital
NIC Capital Ltd is a wholly owned subsidiary of the NIC Bank Group which is listed on the Nairobi Stock Exchange and is one of the largest banks in Kenya.

NIC Capital Securities is a member of the Nairobi Stock Exchange and provides brokerage services in Kenya and offers investors publicly traded shares and bonds; a change from the normal broker.

The brokerage draws heavily from NIC Bank and NIC Capital placing high priority on corporate governance structures and ethics, adequate paid in capital and experienced management.
About Imara
Imara Group is medium sized and has offices in Botswana, Malawi, South Africa, the UK and associate offices in Malawi and Zimbabwe. The Group has a working relationship with Stockbrokers Zambia, Namibia Equity Brokers and Mac Capital in Dubai.

The group is also independent and privately owned, enabling objective decision-making in the service of our clients.
Imara Group is an active participant in the region's financial markets and maintains one of the largest research coverage of regional equities. Funds under management exceed US$ 135m and funds under administration exceed US$ 750m.