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Lights on at new Rundu Mall

Rundu Mall will help to enhance the importance of Rundu as a destination and will lessen its retail reliance on towns such as Tsumeb and Grootfontein. The Mall represents a N$165 million investment in Rundu by Safcoll. Safcoll is the joint venture company that was formed by Collins Properties and Safland International, which recently became a wholly owned subsidiary of Tradehold.

The first phase of the exciting new Rundu Mall was opened earlier in May by its developers, the Safland Property Group. The second phase of the 14,000 square metres mall will open in November this year.The new Rundu Mall is Safland’s 5th shopping centre to be delivered from start to finish in four years.

Safland’s Leasing Director, Mirinda van der Merwe, said the Rundu tenants trading in this first phase of the development include Shoprite, KFC, JetMart, PEP Home Store, Markhams, Dodos and Bears. “We decided not to have an official opening for phase 1 of the development, opting to leave this for later this year when the whole centre will be opened for business.
This however did not deter shoppers who arrived in their thousands to support their favourite brands. “We are proud of being part of this venture, which – once finished – will be the biggest shopping centre in northern Namibia” she said adding that shoppers not only came from Rundu, but from the whole region and from Angola.
Regarding employment, she said “Around three hundred people are employed during the construction and once the mall is operational approximately 250 permanent jobs will have been created.
Furthermore skills development was also a vital ingredient of this project as quantity surveyors, engineers and the like gain experience in designing and planning of shopping malls.
Lastly, the overall contribution to retail sales of the Rundu Mall is estimated at N$280.5 million per annum, and N$1,6 billion over 5 years while Foreign Direct Investment (FDI) is estimated at N$120 million and the development value at N$165 million.

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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.