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Walvis Bay Corridor Group celebrates 15 years

From the left, Walvis Bay Corridor Group CEO, Johny Smith, H.E Dr. Hage Geingob, Hon. Alpheus !Naruseb with Namibian Ports Authority CEO and Corridor Group Chairman, Bisey Uirab.

The Walvis Bay Corridor Group (WBCG) was established 15 years ago and has to date made significant progress in positioning Namibia as the number one logistics hub in the SADC region, President Dr Hage Geingob said last weekend.

Geingob made the remarks at the 15th anniversary of the Corridor Group held in Swakopmund on 28 August.
“One important sector selected to boost our industrialization drive is transport and logistics. I thank the WBCG for the relentless effort it has put into developing routes between our ports and border points, as well as the rest of SADC,” Geingob said.
The Walvis Bay Corridor Group was established in 2000 to promote the utilisation of the Walvis Bay Corridors, which is a network of transport corridors principally comprising the Port of Walvis Bay, the Trans-Kalahari Corridor, the Walvis Bay-Ndola-Lumbumbashi Development Corridor, the Trans-Cunene Corridor, and the Trans-Oranje Corridor.
Both Geingob and the Minister of Works and Transport, Hon Alpheus !Naruseb, have revealed that plans are currently underway to revamp the country’s rail sector in order to boost trade.
“In addition to the upgrading of our rail infrastructure, expansion efforts of our railway lines should continue. These include strategic projects such as the railway line between Botswana and Namibia, as well as the railway line between Namibia and Zambia, via the Zambezi region,” Geingob said.
Walvis Bay Corridor Group Board Chairperson, Bisey Uirab, said that the time is ripe “to transform our transport corridors into economic development corridors so that they ultimately become a network of supply and distribution channels linked to our key strategic port, the port of Walvis Bay.”
“I am confident that the completion of the port expansion project at the Port of Walvis Bay by 2017 will go a long way to establish Namibia as a regional logistics hub and will further support the government’s stated intention to develop an industrialized economy,” he said.

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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.