Imara Capital Securities (“ICS”) is the dominant stockbroker and one of the most respected in Botswana, having earned this reputation over almost 20 years since launch in 1999. Our comprehensive research is fundamental to this success.

Clients benefit from both an owner managed culture, staff own 30.6%, as well as the governance and resources from a larger pan African financial services group, Imara Holdings own 50.1% and third-party partners 19.3%. As owners we are aligned with our clients. Being part of the Imara Group allows us to offer our clients access to those markets that our sister brokerages operate in as well as the other services of the Imara Group. We also have a wide reach in global markets through broker partners in markets like the JSE, TSX, ASX and AIM.


As a member of the Botswana Stock Exchange, ICS is directly regulated by the Exchange as well as the Non-Bank Financial Institutions Regulatory Authority, who also act as the licensing authority. They carry out annual inspections of our offices, operations and records and we are compliant with both regulators.



ICS has been involved in several corporate actions ranging from share splits, capital raising exercises including listings through initial public offerings, placings, debt issuances and listings by way of introduction. We work with listed companies on an on-going basis to ensure that regulatory requirements relating to securities listing are met. We have been instrumental in the development of the resource sector on the BSE with our involvement as sponsoring broker on 99% of the listings in the sector.



We deal with all Botswana’s major institutions, including banks, fund managers and parastatals and large overseas institutions with considerable investments in Botswana. The institutional broking team is actively involved in capital raisings for a diverse range of companies and organizations. We assist them to develop the most relevant strategy to meet both short and long-term capital requirements. Advisers in our Private Clients Department are continuously briefed and updated on listed stocks researched by ICS. This enables them to provide relevant, up to date information to make informed recommendations about the most appropriate stocks to build their share portfolios.


Tel: +267 318 8866


  • Securities dealing (Shares, Bonds, ETFs)
  • Corporate broking including sponsoring brokership for new listings (capital raisings),
  • standing sponsoring brokership for listed entities, rights issues and share splits
  • Disposals


Our dealing desk is one of the busiest and has executed the most trades on the BSE by turnover in the past two consecutive years.

Our traders are adept at trading on the ATS, the electronic platform employed by the BSE for deal execution.


We are confident we have the highest quality research focused on the Botswana equity market. ICS publishes daily and weekly market reports providing a review of market events with an emphasis on Financial and Resource stocks. In addition our research team publishes company specific reports periodically usually following key company announcements. Research is the basis of all our recommendations. The ability for clients to access a large range of research recommendations gives us a significant competitive edge. Our analysts regularly visit companies to stay in close contact and to ascertain its future outlook. Our relationship with Imara also gives us access to Group research material which we are able to offer to our clients, in addition to our in-house research.

Get in touch with IMARA. Let's talk now.