Imara Holdings has announced the retirement of the Group’s Chief Executive Officer, Mark Tunmer, effective March 24.

Tunmer will, however, remain a Director of Imara and will take on the role of Non-Executive Deputy Chairman.

He will also continue as Chief Executive Officer of Imara’s subsidiary company, Imara Capital Zimbabwe.

The founder of Imara, Tunmer joined the Group in March 1985 in Zimbabwe and was largely responsible for the establishment of Imara in Botswana in 2002.

He then led its growth into Africa resulting in the Group being represented in several African countries today.

He was also instrumental in Imara being licensed in the International Financial Services Centre, Botswana’s offshore center, in 2003 and being listed on the Botswana Stock Exchange in October 2006.

Tunmer will be succeeded by Tom Gaffney, who has served as a Non-Executive Director of Imara since November 2014.

Gaffney was previously Chief Executive Officer of the UK’s Ambrian, a natural resources investment bank active in Africa and listed on the AIM market of the London Stock Exchange.

Prior to founding Ambrian in 2001, Gaffney was a director in the Corporate Finance Department of Robert Fleming & Co. / JP Morgan.

“The Board would like to thank Mr Tunmer for his past contribution and to wish him well in the future. The Board looks forward to Imara’s continued growth under the new leadership of Mr Gaffney,” Imara Holdings said in a corporate announcement.