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Standard Bank clinches Global Finance award

Standard Bank clinches Global Finance award

Standard Bank Namibia was recently awarded the Global Finance award for Best Subcustodian Bank in Namibia in 2016, for the third consecutive time since 2014.
“We are extremely proud of this achievement. For the past 15 to 20 years Standard Bank has been the leading provider of custody and related services in the Namibian market. Our business is the largest custodian in the Namibian market and boasts various product offerings under our Investor Services umbrella,” said Corny Zaaruka, Head: Investor Services at Standard Bank.
According to Zaaruka these leading services are expertly delivered by an experienced team of custody professionals, who have a detailed understanding of the challenges and opportunities facing our diverse client base.
“We develop leading services to meet client need. Standard Bank’s investment administration product offering is aligned to corporate governance trends and the increasing requirements from pension fund trustees and fund administrators for independent investment accounting and consolidated reporting,” she said.
“Through securities lending, we lend shares or bonds from an investor’s portfolio to meet the temporary needs of other parties, typically dealers who need securities to support their trading activities,” she added.
Zaaruka said Standard Bank Namibia is also the leading provider of unit trust administration services to unit trust funds. “Our automated trustee administration system mirrors the fund accounting records of the management companies, providing daily feedback to them to ensure compliance with the Act and Deeds, together with details of any breaches,” she added.
“We leverage the advanced technology that exists in the Group Custody business to enhance service delivery, innovate across our service offering and reduce operational risk. Our Custody system is fully SWIFT compliant. Through our extensive Standard Bank Group footprints in Africa, we are able to connect our clients to the African markets,” she said.
Furthermore, according to Zaaruka, through their alliance with The Bank of New York Mellon, they provide domestic institutional clients with access to favourable tiered pricing structures and coverage in over 100 global markets.

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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.