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New hope for shack dwellers

New hope for shack dwellers

Through the ongoing Buy-a-Brick fundraising project, Standard Bank handed over a total of N$1.4-million to the bank’s Corporate Social Investment beneficiaries, the Shack Dwellers Federation of Namibia, who subsequently began construction on 40 new houses for its members in Rehoboth last year.

According to Standard Bank’s Acting Head of Marketing, Sigrid Tjijorokisa so far 17 houses have been completed and the remaining houses are expected to be done by March this year.

On Thursday the Bank, cemented their new found relations with Gold Paralympian winner, Ananias Shikongo, when he inked an agreement with the Bank to help raise awareness on the bank’s Buy-A-Brick initiative.

It is in this context that we are signing a contract with Mr Shikongo to partner with us in raising awareness about the Standard Bank Buy a Brick initiative through various marketing activations over a one year period,” she added.

The community based project is geared towards raising funds from both the public and private sector in order to enable residents of low income households through the Shack Dwellers Federation of Namibia to build decent dwellings for themselves.

Shikongo, who is completely blind, won two bronze medals and one gold medal at the 2016 Summer Paralympic Games in Rio de Janeiro. Shikongo is uniquely equipped to raise awareness on the landmark campaign because he has lived in a shack most of his life.

Meanwhile, Shikongo said, said he was happy by the project and applauded Standard Bank for its support. He said that through sports, disabled people like himself were trying to make something of themselves.

Some people have been working for a long time but they could not afford to buy a house, they now can with the Buy-A-Brick initiative,” he 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.