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Inflation to average 7% in 2012 – BoN

Namibia is likely to miss the regional inflation target range of 3 to 6% as inflation is set to average around 7% in 2012, the Governor of the Bank of Namibia has said.
In an interview on Wednesday, the central bank chief, Ipumbi Shiimi told the Economist that inflation will average 7% this year peaking at just below 8%.
He said: “We don’t think (inflation) is going to be double digit levels. We are not worried that it is going to runaway.”
Although optimistic that inflation will remain within “tolerable levels”, Shiimi was somewhat concerned that the average inflation for the first quarter of the year, which incidentally is 7%, remains relatively high compared to 3.5% in the same period last year.
The governor also cautioned that inflation will, to a greater extent, depend on the price of oil which have remained high since the beginning of the year, and to taxi fares which are set to go up at the end of this month by more than 10%.
Denying that the current high oil prices were a result of speculation, Shiimi said he hoped for a speedy resolution to the Iranian crisis which has seen the US impose sanctions on Iran resulting in a worldwide import ban of Iranian oil.
“The US has banned oil imports from Iran which is a major oil supply. If countries are being forced to import oil from somewhere then it means there will be a shortage of oil on the market and naturally prices will go up.
“We hope things will be resolved in Iran because the sanctions imposed on the country have affected the supply of oil.”
The Bank of Namibia’s sentiments on inflation are in line with Capricorn Investment Holding’s inflation outlook  for 2012. Economists at Capricorn said last week that they don’t anticipate any immediate easing of food and energy costs in the near future and as such expect the domestic inflation rate to remain above the 6% upper limit of the target adopted by other central banks in the region.

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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.