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Namibia, Swaziland craft trade agreements to enhance bilateral relations

Namibia, Swaziland craft trade agreements to enhance bilateral relations

Xinhua — Plans are under way for Namibia and Swaziland to expand bilateral relations, Foreign Minister of Swaziland Chief Mgwagwa Gamedze eralier this week.

He made the remarks during an official visit and courtesy call by King Mswati III of Swaziland to Namibian President Hage Geingob in Windhoek.

According to Gamedze, the ministers of the two countries responsible for foreign affairs, trade, finance and environment all discussed the possible signing of the Memorandum of Understandings in respective areas of trade, development and investment.

“Our principals (the Head of States) has mandated all the said ministries of the two countries to come together and see how we do industrialization between our respective countries,” said Gamedze.

“We have so many products that we have in our respective countries that have exchange-trade potential. For instance, we have sugar in Swaziland that Namibia needs, in return Namibia has fish that we need in Swaziland. We are looking at how we can enhance trade,” he added.

The agreements will not however be signed during the King’s visit to Namibia, as the two parties are still crating and negotiating on the modalities of operation.
“There are technocrats that are looking at the various aspects of the agreements. Very soon we will be able to sign the agreements between the two countries,” he said.

King Mswati III of Swaziland is in Namibia for an official visit, and is also expected to inaugurate the Southern Africa Customs Union headquarters.

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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.