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Procurement Bill to return

His Excellency Dr. Hage G. Geingob, President of the Republic of Namibia, addressed the Nation on the 21st of April and in his first State of the Nation Address one of the issues he raised was the Procurement Bill.

His Excellency said that the government will raise the bar regarding transformation of ownership structures. “Therefore, restriction of ownership over our natural resources will also be explored and enforced,” he stated. His Excellency said that he will direct that the Procurement Bill be brought back to Parliament as soon as possible.
“The Bill should deliberately favour local businesses, equally the completion of the Retail Charter should be fast-tracked and finalized before the end of 2015,” emphasised His Excellency. He proclaimed that it is unacceptable that a quarter century after independence, locally produced goods are denied shelf space in retail outlets.
“I call upon our Ministry of Industrialization, Trade and SME Development to ensure that our Industrial Policy and accompanying Growth at Home Strategy get implemented expeditiously, everything we do should be aimed at adding value locally and developing the local economy,” said His Excellency.
The Public Procurement Bill intends to empower the manufacturing industry in Namibia and it entails giving Namibian companies priority when tenders are awarded. The Bill also states that tenders with a value of N$20 million will be reserved for SMEs, while tenders valued between N$20-60 million will be reserved strictly for companies that are solely owned by Namibians. While tenders valued over N$60 million can be awarded to foreign individuals who are in partnership with Namibians, and that the Namibian individual should at least have a 50% stake in the joint venture
His Excellency emphasised that the State will play a more active role in the economy, but this is not to compete with the private sector but to acknowledge that the “invisible hand” of the market does not always work as it should.

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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.