Rikus Grobler | Oct 11, 2017 | 0
Former property investment manager takes Paratus deeper into Africa
Hotshot property portfolio manager, Stefan de Bruin has just joined Paratus Telecom as new Chief Financial Officer for the group. Following his sterling accomplishments at property management companies, de Bruin is tasked to help grow Paratus across the continent.
De Bruin is responsible for the group’s overall financial affairs, now contributed to by subsidiaries in Namibia, Botswana, Zambia, South Africa and Angola. He will inter alia focus on the financial evaluation of new telecom infrastructure projects in Africa and the formulation of the funding proposals for these projects.
He will remain a non-executive board member of the Old Mutual Orion Namibia Pension and Provident Fund. Previously he was a non-executive director of the Namibian Stock Exchange, a member of the exchange’s Remuneration and Nominations Committee and chairman of the Audit Committee.
More recently, De Bruin was with Old Mutual Investment Group Property Investments and served as a representative director of Oryx Properties as well as Oryx Management Services, a subsidiary of Old Mutual properties.
He then joined Oryx Properties, first as Chief Financial Officer and later as Chief Executive. De Bruin grew the Oryx portfolio from N$900 million to N$2.3 billion (255%), mainly through new acquisitions and developments. During this same period, the linked unit price increased by 220% and investors enjoyed an average total return of 25% per annum.
De Bruin said. “There is a significant demand for information and communication technology in Africa and I believe that Paratus Telecom’s track record in this sector together with its current exposure in Africa provides a solid foundation for its Africa strategy.”
Paratus Telecom has earmarked a budget of US$110 million over the next five years for its expansion across the African continent.