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African Union mining vision serves as framework for Namibian minerals policy review

African Union mining vision serves as framework for Namibian minerals policy review

The Ministry of Mines and Energy has just embarked on the long-outstanding review of the national Minerals Policy to align this policy document with the developmental objectives of the African Mining Vision, adopted in 2009 by the African Union at its Heads of Governments summit.

Speaking at a symposium organised by the Namibian Chamber of Mines, the Minister of Mines and Energy, Hon Obeth Kandjoze, said the private sector is seen as a key partner and should come on board realise optimal benefits for each country from the extractive industry. The symposium brought together officials from various African mining chambers and other mining associations.

Mining forms the backbone of the Namibian economy, contributing 12% annually to Gross Domestic Product and bringing in more than half of Namibia’s foreign exchange earnings. The sector is a major employer with a strong multiplier effect on local procurement of both goods and services to mining operators, the minister said adding that mining is seen as a significant employment creator which serves the government ultimate goal of poverty elimination.

The minister referred to the links between the African Union’s mining vision for Africa, noting that it can not be achieved without the private sector as critical partner at country level. Emphasising the government’s strong relationship with the mining industry, he said the Ministry of Mines and Energy has strong relations with the private sector through the Chamber of Mines.

Extending an invitation to the private sector for participation in the development of more mines and in the beneficiation of minerals, the minister lauded the chamber’s initiative, saying “This symposium is ideal for the private sector to commit itself to assisting governments to realise social economic developments of AU member states. This calls for both governments and mining companies to be working together, build trust and pull in the same direction.”

“Namibia is humbled to be accorded the honour of hosting this symposium and is ready to work with the rest of Africa to realise the full benefits of mineral endowment” Kandjoze stated.

In addition to African mining chambers’ representatives, the symposium was attended by African Union trade officials and members of the African Minerals Development Centre in Addis Ababa.


 

 

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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

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.