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BDO Global receives international accolade

International Accounting Bulletin publisher Vincent Huck with the Chief Executive Officer of BDO Global, Martin van Roekel.

International business advisory, accounting and auditing firm, BDO was last week named the winners of the Network of the Year award at the International Accounting Bulletin (IAB) Awards.

The annual IAB Awards celebrate excellence in the accounting profession and bring together some of the most prominent people in the industry. BDO was up against strong competition, including PWC and KPMG, shortlisted in the same category.
Network of the Year is awarded to networks that have demonstrated the execution of profitable growth strategies during the past 12 months, and have excelled in a number of key strategic and operational areas. They are also recognised by the industry as a reputable brand that consistently delivers high quality professional services.
BDO Global CEO, Martin van Roekel, expressed his delight on BDO’s impressive performance. “Today I am very proud to witness this recognition of excellent standards throughout our network.”
“This award is a great achievement for our firms and for our people. It further solidifies the fact that quality, expertise and dedication are core elements in the delivery of exceptional client service and remain at the heart of our service agenda,” he added.
Meanwhile, BDO Global said its performance continued to surpass that of the world economy. In 2014 the firm achieved an 8.81% increase in combined worldwide revenues, crossing the US$7 billion mark for the first time and increased their geographical reach with the addition of firms from 8 countries.
“With the expansion of our global footprint we can provide exceptional levels of service more consistently across the world and our vision, to be the leader for exceptional client service, is reflected in our clients’ loyalty and trust,” van Roekel said.
“I am more convinced than ever that BDO is among the very best global networks in our profession. Winning recognition as Network of the Year is further evidence of the attractiveness of BDO to new member firms and helps explain why so many firms are discussing the merits of joining our network” he added.

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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.