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Buy a Brick gains traction

Buy a Brick gains traction

FaanBergh Winckler Projects became the first commercial enterprise to make a substantial contribution to the Buy a Brick project when they bought 2000 erasers in the form of brick facsimiles for the learners of Dr Aupa Frans Indongo Primary School in Babylon, Katutura.
The erasers which were pledged to the school principal, Mr Shikongo will be distributed to the learners when school starts next year. Each eraser costs N$5. By buying 2000 “token bricks” FaanBergh Winckler Projects has donated N$10,000 to the Buy a Brick project.
Standard Bank launched the Buy-a-Brick Project in Windhoek in October selling erasers to donors. Each eraser looks like a small brick and for each eraser sold, a donation goes to the Shack Dwellers Federation. The bank and the federation has a relationship covering the past eight years.
The Buy-a-Brick project was launched jointly by Standard Bank’s CEO Vetumbuavi Mungunda and the First Lady, Monica Geingos as the patron of the federation.
“The Standard Bank Buy-a-Brick initiative is borne out of a continual assessment of our CSI initiatives and their relevance to the challenges of our time as a country, community and bank. This initiative falls well in line with our theme of “moving communities forward”. What better way of moving communities forward than to assist the less fortunate members of our nation to obtain decent homes? We have a duty to assist to move members of our communities into a decent home and we also saw it befitting to launch this initiative this year when we mark our 100 years anniversary in Namibia,” said Mungunda at the launch.
Geingos commended Standard Bank saying. “When we look at our communities there are people who can not afford low income houses. What Standard Bank is doing is a creative and worthwhile initiative for uplifting poor communities.”

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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.