Botswana-based financial services group Imara launched an investment fund on Thursday focusing on African resources, the latest in its series of niche investment vehicles on the continent.

“The new fund is a renewed expression of long-term confidence in Africa as an important investment destination,” Imara Chief Executive Mark Tunmer said in a statement.

The Imara African Resources Fund (IARF) was seeded six months ago by Imara executives and has positions in companies with underlying assets in South Africa, Zimbabwe, Botswana, Tanzania, Ghana, Mali and several other African countries.

Its strategy is to target small-to-medium-sized mining and other companies that can fall below the radar of large international funds that tend to allocate resources towards the major resource companies.

The fund is to be managed by Bruce Williamson, an investment professional with a 25-year career as a mining analyst.

“We are now looking at greater variety and stronger exposure to exciting opportunities in west Africa and countries such as Botswana, Namibia, Zimbabwe and Zambia,” Williamson said. “The big, long-term upside is among juniors and mid-tier miners.”

The fund’s current mix of commodities includes gold, platinum group metals, coal, ferrous metals, chrome oil and gas, Imara said.

Imara runs several regionally tailored investment funds — the Imara Zimbabwe Fund, the Imara Nigeria Fund and the Imara East Africa Fund.

It also offers an African Opportunities Fund that takes long-only equity positions in a range of countries and sectors.

The African Resource Fund is registered in the British Virgin islands and denominated in U.S. dollars. The minimum investment is $100,000.

MineWeb