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Diamond Trading Company’s first contracts issued from Gaborones

The De Beers Group of Companies earlier this month commenced the 2015-2018 Global Sightholder Sales (GSS) contracts.

The updated qualification process aims to increase third party confidence in GSS customers’ corporate transparency and financial robustness. De Beers identified two types of GSS customer in the three year contract namely, Sightholders and Accredited Buyers. “Sightholders qualify for term contract supply which indicates the nature and value of rough diamonds De Beers anticipates being able to offer Sightholders across the forthcoming 12 month selling period,” the group said. Accredited Buyers have the opportunity to purchase rough diamonds on a more ad hoc basis via ‘ex-plan’ availability, which Sightholders can also purchase. The 2015-2016 selling period will commence with 84 Sightholders and two Accredited Buyers.
De Beers remains committed to delivering sustainable beneficiation in the countries of its diamond producing partners. Over the course of the contract period De Beers will therefore continue to support domestic beneficiation sectors in these countries by selling economically cuttable rough diamonds in-country. Philippe Mellier, CEO of De Beers Group, said, “The diamond industry is approaching a period of great opportunity and businesses need to be strategically well-positioned if they are to make the most of it. The approach to the new GSS contracts will support customers in this area by helping to identify them as bankable and resilient businesses.”

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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.