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More money from EU for development

Left to right (seated) Tom Alweendo, director general of the National Planning Commission,  with the European Union Ambassador to Namibia, Fuentes Milani at the signing agreement of an added N$260 million to the 10th European Development Fund country strategy, this week. Standing at the back is Susan Lewis, director of development cooperation at the NPC and Joris Heerenm, head of the EU delegation’s economic, social and trade section.  (Photograph by Yvonne Amukwaya)Tom Alweendo, director general of the National Planning Commission, signed an agreement of an added N$260 million to the already existing agreement with the European Union Ambassador to Namibia, Fuentes Milani as part of the 10th European Development Fund Country Strategy.
The agreement is in line with the EU’s decision in 2010 to allocate one billion Euros towards a millennium development goal initiative. The general scheme envisaged that a first window of approximately 300 million Euros is given to countries who achieve milestones in reaching the UN millennium development goals as a reward, according to the 10th European Development Fund Mid Term Review Results.
Alweendo said that it is based on this that Namibia qualified for this additional amount saying that N$100 million will be used to support agricultural productivity, another N$100 million will be allocated to the Ministry of Health ad Social Service in the area of maternal health and childcare as performance on this millennium development goal needs improvement.
The other N$60 million will be used to top up the envisaged 10th European Development Fund Public Management Reform Support Programmes.
Alweendo also said that “the European Union is an important stakeholder to our country and that assistance given to us by the European Union should be put to good use.”

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


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.