Select Page

Invalid Shitaleni moves into his own house

Invalid Shitaleni moves into his own house

A Walvis Bay resident who is confined to bed, Abraham Shitaleni this week moved into his own house in Kuisebmond. The Mayor of Walvis Bay, His Worship Alderman Immanuel Wilfried handed the Shitaleni family their new home at a special ceremony in the new house.

“As we are bringing 2016 to a close, it is important to reflect and look back on how we have used one of our most vital resources- time. This year has been a good year for the Council in terms of delivering suitable land for the construction of houses for our residents. As we stand here, it is rewarding to see the support we receive for our efforts in housing delivery” said Alderman Wilfried.

“The importance of partnerships has been highlighted here today and I would like to acknowledge and single out the role of Fabreca Construction in working with us to our goal of adequate housing for all. I have no doubt that they will continue to do their best and I look forward to see more of their outstanding work. In the same breath, I would like to thank the positive role of our other partner, Erongo Red in donating the electrical connection fees for this home. On behalf of the Municipal Council, I thank all of you for your continued support and with your backing, turning a dream into a reality. Let us strive to continue making an impact in the lives of our people in 2017 and beyond” he continued.

“We as Council are happy and share in the excitement of the beneficiary, Mr. Abraham Shitaleni and his family who now have a proper roof over their head” he said.

About The Author

The Staff Reporter

The staff reporter is the most senior in-house Economist reporter. This designation is frequently used by the editor for articles submitted by third parties, especially businesses, but which had to be rewritten completely. - Ed.

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.