The Board of Imara Holdings has announced that Hector Fleming was appointed as the head of Imara’s new private equity business.

His director status therefore changes from non-executive to executive.

Fleming was originally appointed as a non-executive director of the company on November, 29, 2014.

Fleming is a founder of Fleming Wulfsohn Africa and has over 10 years of private equity experience across Africa and other emerging markets.

He is a Director of The Johannesburg Land Company, Clover Alloys SA, GoldMoney Networks and Netagio Holdings.

Fleming is a former director of Standard Chartered Bank’s private equity coverage team out of London with a central focus on Sub-Saharan Africa and was previously in the banks’ private equity group, investing growth capital from the bank’s balance sheet and third party funds into private equity opportunities in the emerging Asian economies.

In addition, Imara announced that John Legat and Roderick Macleod have both resigned as executive directors of Imara Holdings.

Legat will continue his employment with the Imara Group in the capacity as Head of Asset Management, based in Zimbabwe.

Macleod has resigned his employment with the Group, in order to pursue other business opportunities.

Imara serves African markets and promotes investing in Africa by providing objective decision making as well as first-class financial products and services to corporate, institutional and private clients, with funds under management exceeding $560.30m.