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Development Bank informs on borrowing threshhold

Following queries from potential borrowers, Development Bank of Namibia (DBN), Communication Manager Jerome Mutumba has issued a public statement that borrowing from the Bank is subject to a business’s annual turnover of N$10 million or more, and is not limited to loan amounts of above N$10 million.
According to the bank, the turnover threshold is based on the national Policy on Micro, Small and Medium Enterprises’ definition of SME enterprises.
He said that start-ups that could confidently project a turnover of N$ 10 million or more can also obtain loans from the Bank that are below N$10 million.
Asked about the minimum requirement for finance he stated that the Bank has a minimum borrowing threshold of more than N$150,000. In the Bank’s experience, he said, there was very little requirement for lower amounts, as these could be financed from turnover or acquired with own sources of capital
Talking about start-up amounts, Mutumba said there is ample evidence on the Bank’s portfolio that an enterprise can achieve turnover of N$10 million on a capitalisation amount of less than N$10 million.
He said the new thresholds are a reflection of the growing requirement for larger financing amounts as Namibia’s economy develops.
He added that the Bank is particularly seeking to stimulate large enterprise development in the key NDP4 sectors manufacturing, transport and logistics, and tourism. He also encouraged local authorities and state-owned enterprises to contact the Bank with potential infrastructure projects.
By focusing on the growing requirements of larger enterprises, the Bank is able to provide highly responsive service to entrepreneurs who need the best possible financial support for establishment and growth of their enterprises, he concluded.

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Today the Typesetter is a position at a newspaper that is mostly outdated since lead typesetting disappeared about fifty years ago. It is however a convenient term to indicate a person that is responsible for the technical refinement of publishing including web publishing. The Typesetter does not contribute to editorial content but makes sure that all elements are where they belong. - Ed.

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


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.