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Shell Namibia tackles poverty

Shell Namibia tackles poverty

Shell Namibia Upstream B.V. in its capacity as Operator of PEL39 has donated N$150,000 to the Child Development Foundation in Katutura, on behalf of the PEL39 partners.
Shell Country Chairman Mr Zekveld expressed his enthusiasm for this collaboration, describing it as one that Shell is proud to support. “Shell takes its social investment responsibilities seriously, and actively seeks ways in which it can make a positive difference in Namibia. We have been impressed with the value of the work of the Child Development Foundation at the Otjomuise Centre, and how they prepare disadvantaged children for a successful school career. We are proud to support youth education in Namibia,” he said.
Ms Maggy Shino attended the handover ceremony on behalf of the Hon. Minister of Mines and Energy, Mr Kandjoze. Poverty eradication remains the central and overarching objective of the development agenda, to transform the lives of people living in absolute poverty.
Shell Namibia Upstream B.V. partners with NAMCOR, and the NAMCOR Exploration Manager Mr Muundjua said that he is very impressed with this initiative.
Chairman of the Centre’s Board of Trustees, Mr van den Bosch hailed this partnership as a good example of the way in which private companies can make a difference in the lives of marginalised Namibians.
The sponsorship agreement covers a three year period. The funds will be used to prepare children from extremely impoverished backgrounds for school by equipping them with strong pre-school skills, fees and stationery and providing nutritional breakfasts and lunches on school days.
At the Centre, the likelihood of a successful school career and thereby better employment prospects are considerably enhanced for these underprivileged children. The programme which has been running for nine years places emphasis on the teaching of English and some 40 children participate in the Centre’s programme daily.
Once they have completed the two-year programme and leave to enter the school system, they are monitored and supported as they progress through school. Their educational progress is reviewed and they attend an afternoon homework club at the Centre on school days.
Shell Country Chairman Mr Zekveld in his closing remarks said “We are proud to support youth education in Namibia, and I commit to visiting the Centre regularly in the coming months and years”.

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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.