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Gendev and NAFAU wage negotiations successful

Standing from left to right: Mr Nabot Nambahu, Ms Beata Hamunyela, Mr Andreas Lucas. Seated from left to right: Mr Reinhold Hamukwaya (Nafau Representative), Mr Volker Paulsmeier (CEO Gendev), Mr Pieter Strydom (Gendev).

The Gendev Fishing Group (GFG) has announced that wage negotiations between the Group and the union came to a successful conclusion on the 13th of October.

CEO of GFG Volker Paulsmeier said that they were pleased with the negotiations which took place over a month and that all parties were respectful and negotiated in good faith.
He added: “The union (NAFAU) was open to our explanations, they were courteous and it was a pleasure doing business with them on behalf of our great workforce.”
The Gendev Fishing Group agreed to a 7.5% increase on hourly rates, N$ 100 increase on housing allowance, while cold allowance increased from N$ 1.00 to N$ 2.50 per hour. “Furthermore all employees in the strapping department will receive a strapping allowance of N$ 0.50cents on actual hours worked as well as a freezer jacket. Lastly a transport allowance of N$ 530 will also be paid once a year during December.”
Paulsmeier thanked the union for their great cooperation and also expressed his gratitude towards the employees who have communicated their satisfaction with the allocated increases.

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Following reverse listing, public can now acquire shareholding in Paratus Namibia


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.