Another financial services institution that we have operating out of the IFSC, which is also one of the first projects we approved, is African Alliance. African Alliance is part of the Brait Group, a large international investment and merchant-banking group listed on the Johannesburg, London, and Luxembourg Stock Exchanges. They have been given two tax certificates to operate under the IFSC. The first is for the administration and management of funds that are not Botswana domestic funds, and the second tax certificate is for the provision of structured financing services, which will be carried out through a company called Natgilt Trading Ltd.
CHERUBIM VENTURES / BAOBAB GLOBAL HEDGE FUND
Cherubim Ventures Botswana Pty Ltd will manage and market the BAOBAB Global Hedge Fund from the Botswana IFSC. The fund will solicit private investment partnerships and will target sophisticated high net worth investors and investment institutions in Southern Africa, Europe, North America and Asia.
The Fund’s objective will be the long-term above average appreciation of members’ capital through the sound investment of their capital. The Fund will invest in securities perceived to be selling at deep discounts to their intrinsic or potential worth, a strategy commonly referred to as value investing.