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Trust to help keep hostels afloat

 (Left to right) Desk for hostels and kindergartens director, Enegalhardt ≠Unaeb, ELCRN Bishop Zephania Kameeta, with trustees of the Immanuel Trust, Vicky Toivo ya Toivo and Hans Rooi, and president of Hope4kids International, Tom Eggum.The Evangelical Church in the Republic of Namibia (ELCRN) has launched a trust fund to help sustain its hostels throughout the country.
The church established its hostel programme in the early 1960s in seven regions of the country to cater for orphans and vulnerable children as well as children that live far away from school especially in rural areas. Most of the hostels’ children come from very poor families and have lost one or both parents due to HIV/AIDS.
The department that runs the hostels, the Desk for Hostels and Kindergartens (DHK), relies heavily on donor funding. But as of December this year, Kindernoltehilfe, a German organisation that was providing 40% of the budgetary needs of the hostels will pull out, leaving government, parents and some individuals as the only sponsors. The government through the Ministry of Education gives a subsidy of N$12per day per child accommodated at the hostels.
The decision by the German organization to stop its funding has led the church to establish the Immanuel Trust in order to mobilise funds for the hostels which could otherwise have closed. The church runs 19 hostels, which employ 152 workers to care for the 1 650 children that are accommodated there.
At the launch of the trust on Thursday night, the DHK raised more than $47 000 cash from the workers at the hostels and other concerned individuals. Pledges made during the event amounted to N$19 750.
Speaking at the event, president and founder of Hope4Kids International, Tom Eggum encouraged Namibians to carry out their tasks to make a difference in the lives of others. Eggum was in Namibia in September during which he toured the hostels, describing the conditions at the hostel as  shocking.
Most of the hostels are dilapidated and in dire need of renovations. Since the level of funding only covers the cost of food, staffing and utilities, the hostels have had to postpone repairs and maintenance.
ELCRN Bishop, Reverend Zephania Kameeta said the church held the conviction that people should be empowered by God, but when that happens they should “start doing the things for themselves.”
He noted that many people held a wrong perception that developed countries were there to solve problems for them.
Bishop Kameeta said he believed it was time that Namibians started “to solve the problems the way we want and not the way other people want”

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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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.