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Property prices continue to increase

FNB’s latest housing index indicates that property prices continued to increase, albeit at a slower pace, during the second quarter of 2015.
Daniel Kavishe, Market Research Manager at FNB Namibia Holdings said, “On a quarterly basis the price index advanced 17% supported mainly by price growth during the month of May and June. The volume index has eased with current quarterly growth of 2%, lower than 8% that was recorded for the same period last year. Compared to the first quarter of the year, the index showed that volumes have dwindled by 3% mainly on the back of poor volumes across all regions during May.”
Kavishe said that central property prices grew substantially with data from Windhoek indicating a 23% growth in median prices while prices in Okahandja grew by 12,6%. “When looking at Windhoek, prices in Omeya have doubled with average median price in the area valued at N$ 1,8 million for the quarter but with median stand size of 1091m2. Finkenstein came in at N$1 million similar to prices in Dorado Park and Elisenheim. In the upper segment, prices in areas like Eros have increased by 77%. Meanwhile, in areas such as Klein Windhoek and Olympia, growth in prices has declined by 21% and 23% quarter on quarter. “Across the central area volumes are generally up by 27%, a good sign that the property market is still quite active, despite high prices” he said.
When looking at the coastal area, the FNB Housing index reveals that coastal towns have shown growth in the median house segment with volumes of transactions increasing by 17%. Transactions for the top end of the market are down 36.4% quarter on quarter as median prices in that segment grew by 29%, thus averaging median price of N$2.9 million. The sharp rise in prices in this upper segment is supported mainly by increasing prices in Swakopmund with median bond sizes valued at N$4.5 million. High value transactions were recorded in extension 18 valued at N$5 million. Walvis Bay recorded the highest quarterly growth volumes 30% followed by Swakopmund at 16%.
Prices of houses in the Northern regions recorded an overall growth of 15% quarter on quarter as areas like Ongwediva, Arandis and Tsumeb record significant transactions during the quarter. Ongwediva recorded a growth of 56% pushing the median price in the area to N$784,000. Ondangwa recorded 26 transactions at the end of June and a total of 39 transactions for the quarter making it the fastest growing Northern town followed by Eenhana and Ongwediva. Median prices in Keetmanshoop and Luderitz edged towards the 700,000 mark at the end of June but this was a result of a few isolated large transactions. Volumes were however up 11% for the quarter mainly as a result of increased activity in Lüderitz. Very few transactions were recorded in Mariental for the quarter as was the case for Bethanie and Stampriet.

“The growth in house prices will remain a permanent feature of discussion for the next few quarters. With soaring energy prices coupled with slow processes across the municipalities, delivery of serviceable land could roll out at a slower pace than anticipate.” he said.

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

Promotion

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.