MAC Capital -Imara alliance creates investment bridge linking Africa and the Gulf

MAC Capital's holding company is registered in Hong Kong, but has a growing presence in Dubai. Its Gulf stock broker, MAC Sharaf is already operational in the United Arab Emirates (U.A.E.) while local banking approvals are awaited for the establishment of an investment bank, MAC Capital Limited within the DIFC.

The MAC Capital Group specialises in cross-border mergers and acquisitions, listings, capital raising, brokerage of Dubai stocks and financial research across the region covered by the Gulf Cooperation Council (GCC).

Imara runs complementary businesses across southern Africa and manages investment funds with equity stakes in numerous African and international jurisdictions.

MAC Capital's Chairman, Robert W. McMillen said: "Our alliance with Imara will open doors to the financial markets of the African continent and act as a conduit for potential dual listings of African stocks on the Dubai International Financial Exchange - the DIFX.

"There will also be strong potential for cross-border merger, acquisition and placement opportunities and for the sourcing of funds in the U.A.E."

By bringing these listings to a globally recognised stock exchange in Dubai, MAC Capital and Imara hope to place listed African stocks into the hands of GCC and global investors.

Imara will provide a springboard into sub-Saharan Africa for MAC Capital's clients by finding opportunities for GCC-based companies to invest in African infrastructure, technology, business, resources and real estate.

The MAC Capital-Imara alliance has been sealed at a time of growing interest in African markets by GCC investors.

In recent months:

· Gold Fields Limited, the South African gold mining company with market capitalisation of over US$10 billion, has listed on the DIFX.

· Istithmar, the Dubai Government's investment arm, and a joint-venture partner acquired a US$1 billion interest in South Africa's leading tourist destination, the Victoria & Alfred Waterfront in Cape Town.

· Abu Dhabi's Mubadala Development Company has created opportunities for Middle East and North African investors by purchasing assets in Africa, including the recent US$400 million acquisition of a Nigerian GSM licence.

· JSE-listed IFA Hotels and Resorts has supported its parent's U.A.E. and Lebanon portfolio with several acquisitions in Africa, including the award-winning Zimbali resort and Boschendal wine estate in South Africa, Lonrho Hotels in Kenya and the Mövenpick Resort and Spa in Zanzibar.

Imara CEO Mark Tunmer commented: "We are now able to provide our clients with access to the stock exchanges of the UAE and have a partner that will help us to introduce African investment opportunities to investors in the U.A.E. and GCC and indeed to markets such as London, Tokyo, Paris, Geneva, Hong Kong and Bangkok."