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Namibia, South Africa lift Mediclinic’s revenue

Namibia, South Africa lift Mediclinic’s revenue

The Mediclinic healthcare group reported this week Friday, its revenues of the financial year ended 31 March 2017, are up by R14.3 billion, backed in no small measure by the group’s growth in South Africa and Namibia.

While the group’s revenue from the Middle East came under pressure due to operational challenges following a take-over, its financial performance was saved by its operations in Switzerland, South Africa and Namibia.

Mediclinic has a primary listing on the Main Market of the London Stock Exchange with secondary listings on the Johannesburg Securities Exchange and the Namibian Stock Exchange in Windhoek.

The group’s revenue from its operations in Southern Africa is up by 7% to R14 367 million; underlying EBITDA is up 6% to R3 049 million with an underlying EBITDA margin of 21.2%, the group Chief Executive, Danie Meintjies said in the financial statements.

Expressed in Sterling, the group’s revenue went from 2107 million Pounds in 2016 to 2749 million Pounds in 2017. This constitutes a 30% growth.

The good profit was driven by a 0.8% rise in bed days sold and a 5.8% increment in the average revenue per bed day and the introduction of a 20% co-payment system in July 2016, Meintjies said.

Quoting from the financial results, Business Day in South Africa reported that a growing demand for healthcare services, despite a drop in revenue from Abu Dhabi, pushed up revenue.

Inpatient admissions fell by 4.8% and outpatient numbers fell by 9.7% mostly due to what Meintjies said is a growing disease burden and improved technological innovation. But in southern Africa, the group has seen substantial growth.

The acquisition of United Emirates operations by Al Noor Hospital Group in the Middle East for about £1.5 billion five month ago, Meintjies said, lead to business and operational challenges affecting volumes in Abu Dhabi.

“The Middle East, accounts for 24% of revenue,” Gryphon Asset Management portfolio manager, Reuben Beelders said indicating how big the impact from Middle East operations is to the performance of the whole group.

“I believe management have their work cut out for them in the Middle East. The low oil price is going to place growth under pressure,” Beelders said.

Mediclinic Southern Africa operates 49 hospitals and 2 day clinics throughout South Africa and 3 hospitals in Namibia with more than 8000 inpatient beds in total.

About The Author

Freeman Ngulu

Freeman Ngulu is an Entrepreneur, into data journalism and is an aspiring content marketer. He tweets @hobameteorite.

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.