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Start-Up Grind inspires budding entrepreneurs

Start-Up Grind inspires budding entrepreneurs

The Windhoek Chapter of Start Up Grind organised an information session to inspire the owners of small and medium enterprises by providing insights on how to make their start-ups a resounding success.

Start Up Grind is a global start-up community designed to educate, inspire, and connect entrepreneurs. Founded in Palo Alto, California, it is powered by Google for Entrepreneurs and has a network of Start Up Grind chapters located around the world.

In Windhoek, Start Up Grind is under the stewardship of Director Stacey Pinto. The information session was hosted in collaboration with Standard Bank, which also contributed N$38,000 to the event.

Standard Bank’s Head of Enterprise Banking, Dennis Isaacs, speaking at the event, raised the importance of helping entrepreneurs make profits in their businesses.

“However there are various things they need to know and expect from us as the bank. They need to know that the bank doesn’t only give financial assistance but also advises them how to grow and sustain their businesses,” Isaacs added.

He further advised the perspective minds behind the future Start Up that would propel Namibia’s economy to always have the competitive edge render the best services in the industry and most importantly to know the people share and can run with their vision.

“Young entrepreneurs also need to think of the Economies of Scale, they need to think big. They need to learn how to manage a business, they need to work on their numbers, they need to price their products correctly so they can make a profit and most importantly they need to dig deep to make their business bankable,” he stressed.

Isaacs added that the Bank has various products that young entrepreneurs can choose from to advance their business such as the Business Current Account, Business revolving Credit, Commerce Property Loan and Contract Financing, to name a few.

Managing Director of Leap Holdings Group, Ally Angula, who admitted that she had a rocky start from venturing into the Corporate to the Enterprise sector, said that she has found that people want to be employed but they do not want to work, which involves rendering their services beyond their normal working hours into the wee morning hours.

“There is a value in principles because you need to be principled in your decisions (as a business person),” Angula said. She added that start up’s should know that they don’t have a business until they are generating income.

Additionally, she pointed out that there are a lot of uncharted territories in Namibia for start ups and that provides immense opportunities for them.

“Namibians are not used to Start Ups, they are used to already established institutions. I want to advise them that they should not push to go get money (through lending) but they should gain traction through selling. Entrepreneurs need to fund their operation and not the growth of the business, do what you can with what you have,” she concluded.


 

 

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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.