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MTN Namibia welcomes in new Board of Directors

MTN Namibia welcomes in new Board of Directors

MTN Namibia has welcomed a new Board of Directors headed by  local businessman, Mr Vaino Nghipondoka, owner and Chairperson of Profile Investment Holdings.

This appointment follows a strategic multi-million dollar transaction, which saw Profile Technologies acquire 30% shareholding of MTN Business Namibia this year, paving the way for MTN Namibia’s evolution.

In the new company structure, Nghipondoka is replacing Swaziland MTN Chief Executive Officer, Ambrose Dlamini, who was previously MTN Business Namibia Board Chairperson.

Dlamini remains a member of the MTN Namibia Board of Directors, together with Elia Tsouros (MD, MTN Namibia and Botswana), Solomon Nemaire (MD, Profile Investment Holdings), Charles Molapisi (CEO, MTN Zambia), Ebenezer Asante (VP, MTN SEAGHA region) and Sandile Ntsele (CFO, MTN SA). Godfrey Motsa (CEO MTN South Africa), has agreed to step down from the MTN Business Namibia Board.

As incoming chairperson, Nghipondoka will focus on formulating a strategy for MTN Namibia in mobile telephony services and ICT services, specifically to establish and grow new revenue streams.

Despite being with MTN Namibia for a short time only, Nghipondoka is impressed by the company’s experienced team and its achievements and innovation. He said the board’s investment over the past few years in technology like mobile internet is exciting and his goal is to expound that investment.

“I am honoured by this position, and as a Board our focal point will be about consolidating those investments and to come up with new strategies to enhance our network, technology, and expertise throughout Namibia,” said Nghipondoka.

“The company strategy is aimed at growth through digital and all about driving technology excellence, hence we are also excited for customers to see and discover more offerings from MTN Namibia and what we can do for them,” he added.

Nghipondoka who hails from Okalongo, previously worked for the government and Namdeb, before joining the entrepreneurial world when he founded Profile Investment Holdings. He holds a Diploma in Business Administration from the Polytechnic of Namibia.

Tsouros has a BCom and BCom Hons degree from the University of South Africa in finance. He previously worked in various management roles across the telecommunications industry and most recently as the Sales Director for MTN Group Enterprise.

Nemaire holds an MBA, among other qualifications, and has previously worked for local firms in a senior capacity. He is currently the driving force at Profile Investment Holdings.

Messrs Asante, Dlamini, Molapisi and Ntsele all hold various qualifications and have been part of the MTN Group for many years, and bring a wealth of knowledge and diverse experience to the Board.

MTN Namibia resolved to refresh the board, deepening the local expertise with a view to improving the governance, risk and compliance profile of the business, taking into account Namibia’s national socio-economic advancement programmes like the Harambee Prosperity Plan.


 

 

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

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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.