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Deloitte appoints new partner

Abel Akayombokwa is the newest partner at Deloitte with effect from 1 June 2012.

Abel Akayombokwa is the newest partner at Deloitte with effect from 1 June 2012.

Deloitte has announced the appointment of Abel Akayombokwa as a partner with effect from 1 June 2012.
“I congratulate Abel on this significant achievement and welcome him to the partnership. Abel’s achievement is the result of his efforts and commitment to excellence. This is evidence that if you work hard, you will achieve,” said Junius Mungunda, Deloitte’s managing partner.
Akayombokwa said it is a privilege to be involved with such an international organisation and that the exposure one gets while working with high profile clients, coupled with personal development amongst other benefits, is an opportunity that should be savoured.
He said, Deloitte as a firm is proud of its transformation achievements, having contributed the highest number of qualified previously disadvantaged Namibians to the accounting profession.
“It is my view, looking back at my journey and to where I am today, that success can only be limited by your own imagination and, in a country like ours, I believe that through hard work, dedication, discipline, and perseverance, every child should be able to reach their dreams,” he said.
Akayombokwa completed a Bachelor of Commerce degree at the University of Namibia after which he joined City Savings and Investment Bank (CSIB) in 1997 as an internal auditor where he was tasked with establishing the Internal Audit Function at the new bank.
In February 2002 he decided to further his career by becoming a chartered accountant. He went to the University of Natal, where he completed his Bachelor of Commerce Honours (Accounting) degree and commenced his training contract with Deloitte in January 2003. He qualified as a chartered accountant in 2006.

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

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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.