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Rehoboth shack dwellers start building

Rehoboth shack dwellers start building

The construction of 40 houses in Rehoboth was launched last week, following a brick-making process which continued over several weekends. These houses are built with funds collected by Standard Bank as part of its Buy-A-Brick project which brought in more than N$1.3 million.
Vetumbuavi Mungunda, Chief Executive of Standard Bank said these funds, collected over a period of eight months, will be used by the Shack Dwellers Federation of Namibia to build the 40 houses in Rehoboth.
The funds were officially handed over to the federation’s patron, First Lady Monica Geingos who said that owning a decent house is the first step to eradicating poverty and the housing shortage especially when communities themselves are involved. “Once you have a house you have to make it a home with elements of love, peace, food and protection. If your home is broken our society is broken,” she said.
An overwhelming number of Namibians participated and contributed to the Buy-A-Brick initiative, with the highest amount of N$200,000 contributed by Namsov and N$50,000 by PriceWaterhouse Coopers. Standard Bank made a seed contribution of N$500,000 at the launch of the project in October last year.
“This initiative, together with the patronage of the First Lady, helped to further raise the profile of the housing challenge as well as the name and the sterling work of the Shack Dwellers Federation of Namibia,” said Mungunda. The Shack Dwellers Federation has seen a significant increase in direct contributions by other corporates and institutions in the last year.
“This is a great testimony to the efficiencies of our partner, the Shack Dwellers Federation of Namibia, and the excellent public-private partnerships that have been forged with the Rehoboth Town Council and the Ministry of Urban and Rural Development. On my calculation, these houses should be ready for occupation within a year from the launch date of the project. This is a real and tangible progress,” he said.
Standard Bank’s management and staff assisted the community of Rehoboth with brick-making sessions over three consecutive weekends. A total of 800 bricks were made during this period. “These participatory sessions are geared towards bringing our employees and our bank closer to the projects and communities we assist,” said Mungunda.
The Shack Dwellers Federation expects to complete the construction of the 40 houses before the end of this year.

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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.