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Youth agripreneurs to converge in Kigali

Youth agripreneurs to converge in Kigali

More than 300 global and African thought leaders and youth agripreneurs will come together for The MasterCard Foundation’s second Young Africa Works Summit on February 16 to 17 in Kigali, Rwanda.

The event will spark new thinking on how Africa’s growing youth population can transform the agricultural sector. Fifty young people will also attend to share their perspectives on employment and self-employment in this sector.

Africa is home to the world’s youngest population with enormous potential to improve agricultural productivity and make the sector a viable source of employment for youth across the continent,” said Ann Miles, Director of Financial Inclusion and Youth Livelihoods, The MasterCard Foundation.

The agricultural sector, already the largest sector for employment in Africa, is expected to create eight million stable jobs by 2020 and offers tremendous promise for catalysing prosperity and creating sustainable livelihoods for young people.

The need for agricultural transformation on the continent, however, has never been more pressing.

The 2017 Summit will highlight contributions being made by young people to transform the agricultural sector from subsistence farming to a modern, competitive, sustainable, and equitable business,” she added.

Miles said that with 11 million young Africans entering the job market annually and the rapid expansion of the continent’s agricultural sector, young people are driving the modernization of agriculture through the use of innovative technologies and production systems.

Agricultural transformation is a clarion call for us, the youth of Africa,” said Pilirani Khoza, Founder of Bunda Female Students Organisation at Lilongwe University of Agriculture and Natural Resources.

We must adopt the new technologies that are available to us. Youth are technological doers and thinkers, they are energetic and hungry for knowledge and they should be actively involved in transforming Africa,”she added.

Highlights of the Summit include a keynote address by Rhoda Peace Tumisiime, Commissioner of Rural Economy and Agriculture, African Union, contributions from Agnes Kalibata, President of the Alliance for a Green Revolution in Africa (AGRA); Lindiwe Majele Sibanda, CEO and Head of Mission at the Food, Agriculture and Natural Resources Policy Analysis Network (FANRPAN) amongst others.

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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.