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TransUnion licensed as credit bureau

TransUnion licensed as credit bureau

“The granting of a credit bureau licence last week to local credit bureau, TransUnion, represents a win-win scenario for consumers and businesses alike, and reflects the growing influence of credit bureaus in financial services across Africa” said its Namibia Country Manager, Marcha Erni.
“The credit bureau industry is key to the sustainable development of an economy’s credit infrastructure. Across Africa, we are seeing more and more countries drive the implementation of the necessary regulatory framework to ensure greater financial inclusion that is underpinned by fair and equal access to credit information by consumers and businesses” she said.
The regulations empower licensed credit bureaus to receive, hold and share ‘full file’ data across the market. This essentially means the processing and transmission of more positive data and not only the ‘flat’, largely negative data of the past. Now that TransUnion Namibia has an approved operating licence, all credit and service providers will be mandated to share the data that they collect on consumers’ ability to service their financial obligations on a monthly basis. “We are excited to see the growing influence of regulations coming into this industry. We believe that it bodes well for both individuals as well as the growth of the economy. The Namibian regulations pave the way for a change in the type of data that can be controlled by credit bureaus“ she elaborated.
“It is important to remember that individual consumers have access to their own credit profiles. This allows individuals to understand their credit history and financial reputation. Everyone needs to keep track of their own credit obligations and we can help consumers to manage their own personal financial reputation and in turn the way lenders view their ability to pay back their loans” added Erni.
But it is not only individual consumers that will benefit from a regulated credit industry. For lenders, the value and quality of the data that a credit bureau can provide is immense. “We are moving into a world in which lending should be responsible as well as profitable. By helping to share credit information between credit and service providers, we are helping to strengthen the decision processes of lenders” she concluded.

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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.