Business / Companies
Zimbabwean company to advise Bob Diamond's fund
19 Dec 2013 at 04:00hrs | Views
A Zimbabwean private equity firm Brainworks Capital has been appointed as one of the key financial advisors to the $325 million Atlas Mara investment vehicle.
Atlas Mara is a banking investment cash shell sponsored by Mr Bob Diamond, former Barclays Plc CE, together with Ugandan Mr Ashish Thakkar, which seeks to reinforce a rising sense of business opportunities in Africa.
Brainworks, which arguably has been more active on the corporate finance side than most of its peers, is headed by Mr George Manyere.
Mr Manyere previously worked at the International Finance Corporation and most of the team members assembled by Mr Diamond have had some work experience at IFC.
In its prospectus, Atlas Mara has established a founder network from which to identify and generate acquisition opportunities.
The group will "focus on acquiring a company or business in the financial services sector with all or a substantial portion of its operations in Africa", it said in the prospectus. The cash shell is likely to focus on a lender that banks the business sector, where the lack of capital availability is greater, rather than consumers.
Atlas raised $325 million in an initial public offering in London.
Atlas Mara is a banking investment cash shell sponsored by Mr Bob Diamond, former Barclays Plc CE, together with Ugandan Mr Ashish Thakkar, which seeks to reinforce a rising sense of business opportunities in Africa.
Brainworks, which arguably has been more active on the corporate finance side than most of its peers, is headed by Mr George Manyere.
Mr Manyere previously worked at the International Finance Corporation and most of the team members assembled by Mr Diamond have had some work experience at IFC.
In its prospectus, Atlas Mara has established a founder network from which to identify and generate acquisition opportunities.
The group will "focus on acquiring a company or business in the financial services sector with all or a substantial portion of its operations in Africa", it said in the prospectus. The cash shell is likely to focus on a lender that banks the business sector, where the lack of capital availability is greater, rather than consumers.
Atlas raised $325 million in an initial public offering in London.
Source - herald
