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Frans Indongo joins fight against drought

Frans Indongo joins fight against drought

Since most areas of the country received below-normal rainfall coupled with high temperatures virtually throughout the 2015/16 rainy season, Hon. Prime Minister, Saara-Kuugongelwa-Amadhila handed over a drought relief donation made by the Frans Indongo this week to aid with the plight being experienced.
Speaking at the occasion the Prime Minister thanked the Frans Indonga group of companies for their donation. “I want to specifically recognize the assistance offered to us by one of the Indongo group’s affiliated companies, Bokomo Namibia, which has availed the service of a forklift to the Department of the Disaster Risks Management this year.” Hon. Kuugongelwa-Amadhila added.
The continued low rainfall resulted in dry conditions in the northern and central regions which resulted in low or poor yields by the farmers. “The Meteorological Service has indicated that there is a high likelihood for below normal rainfall throughout the country for the rainy season,” added. the prime minister.
Kuugongelwa-Amadhila added that rain-dependent small holder farmers – comprising at least of 50% of the population in Southern Africa, are the hardest hit by the ElNino’s impact. In consequence Poor regional cereal harvests over the past few years, have tightened cereal supplies. In total, the cereal deficit for the SADC region is 7.9 million tonnes for the 2015/16 marketing year.
In efforts to manage the situation the government has introduced a few measure for drought relief. Kuungongelwa-Amadhila said, “Cabinet, subsequent, to a vulnerability and crop assessment, authorised the implementation of the drought relief programme, which includes the distribution of maize meal and different types of relish to close to 600,000 people.”
The other programmes include the provision of water for human and animal consumption by drilling and equipping new boreholes while rehabilitating old ones as well as livestock marketing subsidies.
Thus far, an amount of N$360 million was spent during the first phase, which started from April to July 2015, while more than N$550 million is expected to be spent during the second phase covering August 2015 to March 2016.
The prime minister also added that combating the impact of drought requires strong partnerships and joint efforts by the Government and private sector and urged all to support the initiatives of the government aimed at fighting hunger in the country and meet government half way in these noble efforts.

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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.