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Mr Schulz, a great loss to construction industry

Mr Schulz, a great loss to construction industry

President of the Construction Industries Federation of Namibia (CIF) and co-owner of Namibia Construction, Karl-Heinz Schulz, on 14 May died unexpectedly at the age of 55. The funeral service took place on 21 May.
Prior independence Karl-Heinz Schulz was associated with the previously called Master Building Association, which after 1993 changed to the Construction Industries Federation of Namibia. For many years, he was also an active executive committee member of the federation and since 2010 he was the president of the CIF.
Karl-Heinz Schulz fought for what he believed was right for the Namibian construction industry. Leading the federation of 480 member companies, he raised the voice of Namibia’s construction industry and in particular emphasised the need for supporting and empowering Namibian companies.
He called for greater transparency in public procurement practices. He felt that the Namibian industry needed to be supported to ensure continuity, to further develop skills and capacity, and for continued decent employment in the Namibian construction sector.
Mr Schulz always advocated and stood for quality and standards. He wanted to see the establishment of a Namibian construction council for greater regulation and monitoring of the industry.
Bärbel Kirchner, consulting general manager of the CIF said: “Leading our industry, Karl-Heinz Schulz always called for greater support for real Namibian companies. Although he welcomed competition, he did argue for a level playing field in the conduct of business and was weary of growing number of foreign companies most likely sponsored by their governments being allowed to operate in Namibia, which he felt undermines the development of our industry.
A book of condolence for Karl-Heinz Schulz remains open at the CIF offices in Klein Windhoek (corner of Stein and Schwabe Street) until Friday afternoon, 27 May 2016. CIF has also set up an e-mail address rememberingkarlheinz@cifnamibia.com for anyone that would like to say something about Karl-Heinz.

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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.