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Geingob to use AU Assembly platform to mobilise resources

The President, H.E Dr. Hage Geingob, is delivering a statement on Friday 29 January at the African Heads of State and Government – CEO Investment Summit, to be held in Addis Ababa, Ethiopia.
President Geingob is attending the 26th Ordinary Session of the African Union Assembly of Heads of State and Government, scheduled for this weekend, 30 and 31 January, which will run under the theme: “2016: African Year of Human Rights, with a particular focus on the Rights of Women”.
According to an official statement released by the presidency, the Head of State will focus on leveraging African resources to finance its development. Discussions surrounding the Summit are guided by the African Union’s Agenda 2063, a strategic framework for the socio-economic transformation of the continent.
Furthermore President Geingob, will also utilise the opportunity of the various platforms to mobilise resources for infrastructural development in Namibia as a catalyst in the war on poverty; job creation; and transforming Namibia into a ‘Gateway’ to Southern Africa’, according to the official statement.
Meanwhile, governments and business Leaders will deliberate on unlocking Public and Private Capital, critical to the implementation of Africa’s development priorities, as emphasised by the Dakar Agenda for Action of June 2014.
After his participation at the African Heads of State and Government – CEO Investment Summit, the Namibian Head of State will attend a meeting of the Committee of Ten (C10) of Heads of State and Government of the African Union on the reform of the United Nations Security Council.

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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.