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Private equity fund makes first solar investment

Private equity fund makes first solar investment

Founding shareholder of Khomas Solar Saver, Mr Owen Sivertsen sold two-thirds of his company to private equity fund, Stimulus.

“Stimulus Investments Limited announced on Friday, 10 February 2017, that it has successfully acquired a majority stake in recently established company, Khomas Solar Saver (Pty) Limited, a renewable energy, financing and installation service provider in Namibia” stated Stimulus late on Friday afternoon after finalising the deal.

In terms of the proposed transaction, Stimulus now owns a 67.6% ownership stake with the remainder of the shares owned by the founding shareholders and key members of the management of Khomas Solar Saver.

Formed in 2016, Khomas Solar Saver offers financing and long-term rental options for the installation of rooftop solar photovoltaics (PV) systems to corporate and commercial clients in Namibia.

The business model targets high-grade properties of long-term relevance and enables them to install a complete solar PV system without any capital outlay. These systems go a long way in fulfilling the demand for cost effective, renewable energy solutions in a market that is increasingly favourable towards green technology.

“Since inception, we have installed 12 solar PV systems, which include clients such as Lady Pohamba Hospital, Metro Hyper, Engen Academia, Oshana Built It and the River Crossing Lodge, with a further 14 PV systems in the process of being commissioned”, said Sivertsen one of the founding shareholders of Khomas Solar. “ We focus on installations with a peak capacity of between 17 kiloWatt Peak (kWp) and 500 kWp at a capital outlay ranging from N$350,000 to N$7 million per single site installation” 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.