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Oryx year end results

Oryx Properties Limited, a NSX-listed property investment company, declared a distribution of 66.25 cents per linked unit for the six months to 30 June 2012. This is an 8.6% improvement over the 61.00 cents per unit declared for the comparative period. The total distribution to unit holders for the year amounts to 128.00 cents per unit, an 8.9% increase over the 2011 financial year.
According to CEO Stefan de Bruin the increase in distributions stems from a 16.1% growth in net rental income mainly due to new developments and acquisitions during the year, strong renewals and the reduction of vacancies to 0.6% at 30 June 2012 (2011: 2.6%). The overall cost ratio improved from 19.0% to 17.4% despite increases in cost of electricity and municipal service charges.
The core portfolio was independently valued at N$1.27 billion at 30 June 2012, which represents a 6.5% increase in value over the June 2011 valuation. The portfolio enjoyed excellent occupancy levels during the year. The low vacancies are the result of Oryx’s focus on tenant requirements. Furthermore we achieved positive lease renewals and were able to conclude leases with new tenants in line with our budgets.
During April and June 2012, Oryx took transfer of two additional industrial properties in South Africa at a total acquisition cost of N$118.2m. The total gross lettable area of these properties is 14 173m² and is expected to produce an average initial income yield of 9.4%.
Construction of a N$28 million truck facility measuring 2800m² on vacant land in Lafrenz is well advanced and completion is expected at the end of October 2012.
The Maerua Mall extension and upgrade project commenced on 12 May 2012. Retail space of 8300m², office space of 3050m² and 925 new parking bays will be added to the centre. The project comprises five zones which are expected to be completed by 31 October 2013 at a total cost of N$307m. At completion of the project, the entire Maerua Mall node will measure 60500m². According to CFO Carel Fourie the project will be funded by a development loan, negotiated at favourable terms, which will be converted to a term loan after completion of the project.
Oryx has produced robust full year results with a total return of 29.7% (capital and income) to its unit-holders. The focus remains on strategic acquisitions, development of existing properties and tenant retention.

About The Author

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


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.