Imara conference attracts more investors

and the potential equity market.
The conference is being organised by Imara Zimbabwe and South Africa-based Imara Africa Securities.

Imara Zimbabwe, head of sales and trading Mr Tino Kambasha said the timing of the conference helped drive worldwide interest.
“Our corporate reporting season will be drawing to a close. A lot of earnings numbers will be hot off the press, giving delegates an up-to-the-minute insight into specific oppor­tunities.
“Furthermore, many local companies are planning to re-engineer their businesses for success in our dollarised economy. It is more than three years since the multi-currency dis­pensation came in, more than enough time for companies to determine what it takes to succeed in the new environment,” said Mr Kambasha.

A strong focus on recapitalisation and restructuring is expected from a number of local companies, creating direct investment opportunities for keen international players.

Mr Kambasha said the first wave of Zim­babwe’s restructuring was already underway and had confirmed the potential for foreign investor involvement in new rights issues, direct share placements and the negotiation of international credit lines.
“Further restructuring is imminent,” he noted.

“In addition, many equity fund managers are eager to explore opportunities for strong capital growth and high equity yields,” he said.
Zimbabwe’s market capitalisation to Gross Domestic Product is less than 39 percent, but tops 50 percent in the wider region.
“This suggests our valuations are relatively cheap with scope for strong gains. At the same time, double-digit dividend yields can be achieved in some instances — an attractive prospect for fund managers from embattled economies.”

Imara convened Zimbabwe’s first in-coun­try investor conference in 2009 and has organised investment indabas in Harare every year since.
The conferences are designed to act as cat­alysts for equity and direct investment by introducing delegates to senior executives from the country’s top companies.
Presentations are scheduled at the 2012 indaba by a host of blue-chip companies listed on the Zimbabwe Stock Exchange.

A strong contingent of Asian investors is expected to complement strong representa­tion from major financial centres in North America, Europe and the Middle East.
Growing Asian interest in Zimbabwe was recently spotlighted by visits by business del­egations from India.
Imara invited the Indian Ambassador to Zimbabwe, Mr Shri Jeitendra Kumar Tripathi, to open the conference and provide an external perspective on the opportunities in Zim­babwe.