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Cabinet to discuss phosphate moratorium

Cabinet is expected to meet before the end of June to discuss the way forward after the moratorium on phosphate lapsed earlier this year. This was revealed by Ministry of Fisheries and Marine Resources spokesperson, Charlie Matengo this week.

He said “the report is done and should be tabled before cabinet within the coming weeks, possibly before the end of June. Inter-ministerial meetings between the fisheries, mines and environment ministries have been held to discuss the report.” The report was prepared by SANET, a Norwegian maritime research group after a Cabinet directive in September 2013 to investigate the impact of marine phosphate mining.
Added Matengu “the position of the ministry has not changed. Let us find out what are the advantages and disadvantages of marine phosphate mining.
“We need to be quite sure.” This comes after Minister of Mines and Energy Hon. Obeth Kandjoze last week announced at the annual Chamber of Mines expo that the moratorium on marine phosphate mining has been lifted since last week.
In his annual address, president of the Chamber of Mines, Werner Duvenhage expressed his concern after the moratorium had lapsed in March of this year. “The chamber remains concerned that the 18-month period of the Cabinet moratorium on marine phosphate which was declared on 17 September 2013 has lapsed without much progress on the desired scientific studies to address concerns by the fishing industry.”
Expressing his stance in April 2014, the Minister of Fisheries Hon Bernard Esau said “what has led to the moratorium decision is a conflict of interest between the sustainability of the marine ecosystem that supports valuable fisheries in our sea and the international mining companies seeking to mine the seabed for phosphate deposits.
“From the desktop research I have read, Marcia Stanton, Director of the Earth Organisation Namibia, said “Marine phosphate mining has never been done anywhere else in the world and Namibian coastal waters are now facing the threat of being the testing ground.”
He added worringly “our fear as a country for mining phosphate on the seabed is justified by the lack of tangible results after mining, hence the moratorium to give this research project a chance.”

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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.