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Debmarine ups exploration ante

The SS Nujoma mining vessel.

Due for delivery in November 2017, Debmarine Namibia will for the first time in its 14 year history   own and operate a custom built exploration and sampling vessel after announcing that it had secured 75% of the finance required for the mining vessel aptly named Sam Shafishuna Nujoma.

Debmarine Namibia will provide 25% of the capital investment while Standard Bank Namibia and RMB Namibia will secure the rest of the funding, announced Debmarine Chief Executive, Otto Shikongo upon delivering his address this week. He said, “I am indeed pleased and proud that the three Namibian entities have united to make this project a reality for the long-term benefit of all our stakeholders and the nation at large.”
“Our mining conditions are unique. We have neither the visibility of nor human contact with the ocean floor. We therefore invest significantly in sampling and exploration work to ensure effective resource delivery,” said Shikongo. According to him, Debmarine has grown substantially, enabling the diamond miner to double its production output to 1.2 million carats. Debmarine currently charters the mining vessels Coral and Explorer for exploration and sampling purposes respectively. “Robust skills development and training programmes will run parallel to the construction of the vessel to ensure that the right people for the job are in the right places when the vessel is delivered,” said Shikongo in preparation for the delivery of the mv SS Nujoma.
Reiterating Shikongo’s statement, Standard Bank Namibia Chief Executive, Vetumbuavi Mungunda said, “I strongly believe that this latest addition to the Debmarine Namibia fleet will help expand deep sea diamond mining and exploration and sampling as well as off-shore mining to greater heights, ultimately contributing to our country’s core economic growth.”
The 113 metre long diamond mining and exploration vessel will be required to remain at sea for three years before returning to port for maintenance, as per ship requirements, Shikongo explained.

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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.