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Remember this Friday 30 June is tax deadline for individuals

Remember this Friday 30 June is tax deadline for individuals

This Friday 30 June 2017, is the deadline for individuals to submit their tax returns to the Directorate of Inland Revenue in the Ministry of Finance. The return must be accompanied by the tax certificate issued by the employer for the tax deducted on income, or so-called Pay As You Earn tax, PAYE.

Earlier in the week, the Operations Executive at Old Mutual, Mr Ben Jacobs remined all Old Mutual clients about the important tax deadline for individuals.

“By law it is important for working individuals that earn above the income bracket of N$50,000 annually to pay tax” stated.

“After every financial year ending in March, all tax payers are by law obliged according to the Income Tax Act 24 of 1981, to submit their tax forms within the following 4 months until end of June” he continued.

“Therefore, over the past three months, Old Mutual has pushed beyond boundaries to assist our customers to receive their relevant tax certificates on time, in order to submit tax certificates. Once more this is an illustration of how we operate as a responsible business towards our customers” he added.

Jacobs informed clients that they can ask Old Mutual to receive the certificats via email, or through the Old Mutual customer service centre or even through the Old Mutual online portal at www.oldmutual.com.na/personal/investments-and-savings/myportfolio.

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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.