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Drought and poverty – one and the same

From the left are Mr. Japhet Iitenge: Director : Disaster Risk Management Unit in the Office of the Prime Minister, Hon Netumbo Nandi-Ndaitwah, Minister of International Relations and Cooperation, Mrs. Rosalia Muashekele-Sibiya, a member of the Dundee Advisory Council and Mr. Isai Nekundi, Dundee Precious Manager Stakeholder Affairs.

Dundee Precious Metals Tsumeb, the operator of the smelter in Tsumeb, last week donated two hundred thousand dollar to the Namibian Drought Relief Fund. At a ceremony in the Office of the Prime Minister in Windhoek, Isai Nekundi, the company’s Manager for Stakeholder Affairs said the donation is aligned with one of Dundee’s core value, Community Investment.

“Dundee strives to be a responsible corporate citizen and is proud to be part of the Namibian house, the house which is faced with various needs and social challenges, such as drought.” He further said that the current drought is notable and hardship is experienced by people and animals alike in many parts of the country. “Dundee Precious Metals Tsumeb understands this reality and the need to contribute to the drought relief fund” he said.
The donation was received by the Deputy Prime Minister, Hon Netumbo Nandi – Ndaitwah, who expressed her appreciation for the support and contributions from partners like Dundee. The minister used the opportunity to call upon other stakeholders to follow the examples set by those companies who support the fund.
Nekundi, further stated that drought affects everybody including Dundee Precious Metals Tsumeb, its employees and their families. Therefore, the company is joining hands with other corporate citizens to be part of the fight against drought and poverty.

About The Author

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.