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Rhodes acquires Pacmar, sets sights on SSA

The recent acquisition of Pacmar by the Rhodes Food Group is intent on its part of further expansion into Sub-Saharan Africa. The transaction valued at N$160 million should entrench Rhodes as a segment leader.
Its expansion into Sub-Saharan Africa represents a potential market of over 700 million people apart from the 170 million consumers in South Africa, Namibia, Botswana, Zimbabwe, Zambia, Mozambique and Kenya.  Pacmar currently manufacturers juice brands Amazing and Zing, sold in various retailers in Namibia while the Rhodes Food Group manufactures a variety of popular canned food products. Its product portfolio consists of jam and tomato spreads, various pineapple, peach, guava, baked beans, pees, and corn products.

The acquisition should be completed by 1 April 2015 as the group intends to make good on proceeds from generated during its listing on the Johannesburg Stock Exchange late last year October 2014, allowing to raise over N$500 million. Other notable key financial highlights apart from the listing include a sharp spike in operating profit of 47.9% to N$246 million, an increase in normalised headline earnings per share of 40.5% to 36.8 cents, and turnover equating to N$2.4 billion.
Following the good run of results as well as a massive cash injection following the listing, N$102 million has been earmarked for capacity expansion and production efficiencies. An investment programme which should be concluded this year will see Rhodes upgrade its Bull Brand facility, increase its storage and dispatch capacity at its fruit production facilities and an increased capacity and upgrading of its pie facility as it seeks to make massive inroads into Africa.

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.