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Merchant shipping set sail on new bilateral agreement between Namibia and Germany

Merchant shipping set sail on new bilateral agreement between Namibia and Germany

A new merchant shipping agreement between Namibia and Germany was finalised this week after two day of negotiations. The bilateral agreement was successfully negotiated in Windhoek between two government delegations of Germany and Namibia.

This agreement is expected to strengthen the economic relations between the two countries and to promote Namibia’s transformation into a logistics hub for the southern African region.

The Namibia delegation included the Permanent Secretary in the Ministry of Works and Transport , Mr. Willem Goeiemann as head of delegation, assisted by Mr. Cornelius Bundje, the Director of the Namibian Maritime and Fisheries Institute, Mr. Pinehas Auene, the acting Director of Maritime Affairs, Captain Lucas Kufuna, the Port Captain of Walvis Bay, officials from the Namibian Ports Authority and other senior officials from the Ministry of Works and Transport, the maritime and fisheries institute and the Office of the Attorney General.

The German delegation was lead by Director General Reinhard Klingen of the German Federal Ministry of Transport and Digital Infrastructure. The rest of the delegation comprised Mr. Peter Escherich, Head of Department for International Maritime Policy and Mr. Jürgen Göpel from the Department for International and National Affairs of Seafarers.

After signing the agreement, the delegations prepared for a joint visit of the harbour, Namport’s offices and the Namibian Maritime and Fisheries Institute.

In a statement announcing the agreement, the two teams stated “Shipping is the most cost-effective way to transport the vast majority of goods in international trade and will be central for global sustainable development and growth. Germany ranks first in the World Bank’s global Logistics Performance Index 2016. Short turn-around times, the interlinking of different modes of transport and advanced logistics strategies help make this possible. Under the agreement and the envisaged cooperation projects, German companies can provide this know-how to make a major contribution to more trade and growth in and with Africa.”

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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.