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From emancipation to growth and development

From emancipation to growth and development

Africa Day and the 55th anniversary of the African Union almost coincided when the Windhoek-based diplomatic community hesitated to celebrate either the one or the other. Eventually, the gala dinner to celebrate Africa Day, was moved to this week Monday, where a colourful motley of diplomatic staff and government dignitaries celebrated the anniversary of the turning point in Africa’s history.

Namibia’s First Lady, Madame Monica Geingos delivered the key note address focussing on the new public private partnership paradigm. She also emphasised the importance of open and honest communications saying that people only grow when they understand the issues and are included in the development narrative.

“In order to grow people must understand the issues that affect them all. While it feels as though there is generational conflict, it is not more than there has ever been” she said stressing that generational conflict is to be expected, but it becomes a problem when people do not respect each other and [do not] listen to one another.

Madame Geingos urged both the youth and their elders to listen to one another, have honest conversations, even with issues that are sometimes considered taboo such as sex and HIV/AIDS, to create unlikely partnerships which will aid in the socio-economic development of Africa as a whole.

Formally known as African Liberation Day, Africa Day commemorates the establishment of the Organisation of Africa Unity (OAU) which subsequently transitioned to the African Union. Mirroring political developments during this process, the African Union’s aspirations for Africa gradually shifted from emancipation to peace and unity through democracy, inclusive growth and sustainable development.

The celebratory gala dinner was sponsored by Standard Bank.

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.