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NBL pulls plug on Windhoek Draught Live Music Festival

NBL pulls plug on Windhoek Draught Live Music Festival

14 December 2016 – Namibia Breweries Limited (NBL) announced that its premium brand, Windhoek Draught has officially withdrawn its sponsorship towards the 2016 Windhoek Draught Live Music Festival at which international R&B artist, R. Kelly would have performed as main act.

The Windhoek Draught Live Music Festival which was initially scheduled to have taken place on 25 November 2016, was cancelled after the events promoter, Namconcerts was notified by the R. Kelly management that they are “experiencing internal challenges”.

NBL Acting Marketing Manager, Rene Duffy said, “With no confirmation or feedback received from the artist or his management 2 weeks after the scheduled event, NBL decided to withdraw its sponsorship to host R.Kelly as main act at the 2016 Windhoek Draught Live Music Festival. It is with sincere regret that NBL informs the general public that this year’s Windhoek Draught Live concert will therefore unfortunately not take place.”

Duffy assured those members of the public who had already purchased tickets for the show, that they will be refunded in full and that the process for reimbursement is in progress.

We would like to take this opportunity to sincerely thank our customers and consumers for their continued loyal and valued support, and pledge our commitment to continue creating amazing and memorable experiences for all,” Duffy said.

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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.