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Accident fund engages in wellness intervention

Leading by example: MVA Fund Acting Chief Executive Officer, Fanuel Uugwanga in the testing van during the intervention.

The Motor Vehicle Accident (MVA) Fund developed an annual Employee Wellness Programme aimed at optimizing everyday health to provide a peace of mind to its workforce and ultimately improve morale and productivity.

Last week, the MVA demonstrated its commitment to the wellness of its workforce by engaging its employees in an Employee Wellness and Prevalence intervention, through which employees were tested for, amongst others, HIV, Hypertension, Cholesterol, Diabetes and Hepatitis B. The Body Mass Index (BMI) of employees was also checked, followed by health education as well as  Therapeutic massages as stress and pressure relievers.
The wellness intervention was conducted at the MVA Fund Service Centres in Windhoek and Ongwediva. As part of the programme, the Fund encouraged employees to enhance their physical fitness, maintain healthy relationships and eliminate risky behaviours such as smoking, unprotected sexual activities and excessive alcohol intake. The MVA Fund Acting Chief Executive Officer, Fanuel Uugwanga encouraged the employees to participate in the wellness activities, particularly to get tested for various lifestyle conditions and invest in their health.
According to Uugwanga, the wellness intervention will not only enable the Fund to gauge the health levels of its workforce, but will boost the employees’ health and subsequently promote a healthy workforce that delivers great service to the public.

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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.