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Strong partners essential to bring development targets in line with funding

Strong partners essential to bring development targets in line with funding

Strong partnerships between the government and Namibia’s development partners is a key aspect of sustainable economic growth, according to the Minister of Economic Planning, Hon Tom Alweendo.

Speaking at a forum arranged by the National Planning Commission earlier this week, the minister encourages all development partners across the broad spectrum of functionalities, to coordinate their input wherever possible, to achieve priority development outcomes and targets as encapsulated and defined in the 5th National Development Plan (NDP5).

The 2017 Development Partners Forum was co-hosted by the United Nations system in Namibia, attracting around seventy representatives who are all working activitely in or with various aspects pertaining to development and the effectiveness of development spend.

The event, which took place at the UN House in Klein Windhoek, was attended by people representing bilateral and multilateral institutions, the private sector, academia, research institutions and civil society organizations.

The forum constituted the official platform for the Namibian Government to brief development partners on the implementation of NDP5, and to get their feedback on areas of support. It also discussed strategies to coordinate development assistance at sectoral level.

Coordinating the activities and contributions from development partners is one of the mechanisms for implementing the principles of the Paris Declaration on Aid Effectiveness, which Namibia signed in 2007. The intended outcome is to improve development contributions for long-lasting results, helping to achieve the Sustainable Development Goals.

A groundshift in the broader development approach occurred when Namibia moved away from the strict and confined concept of aid effectiveness to the wider, more flexible interpretation of development effectiveness. While the former focussed on control and auditing of development funds, the latter recognises existential outcomes as far more important.

The UN Resident Coordinator to Namibia, Kiki Gbeho said, “This year’s event is even more important for Namibia and its War on Poverty, as we have moved from planning to implementation of the Sustainable Development Goals, the Harambee Prosperity Plan, the Poverty Blue Print and now NDP 5.”

“It is our hope that this development forum will capitalize on strengthened coordination to help move Namibia closer to realizing Vision 2030” she said.


 

 

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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.