Select Page

Savino in quest to fight illegal liquor cross border trading

Savino in quest to fight illegal liquor cross border trading

Freight forwarding company, Savino Del Bene (SDB) last week launched a campaign to tackle cross-border illegal liquor trading.

The launch follows Namibian authorities associating Savino’s name with a counterfeit liquor bust which took place in Walvis Bay resulting in the company faced with a N$70 million tag to pay to Namibia’s Department of Customs and Excise.

Savino Managing Director, Kobus Maree in a statement has denied the allegations related to the incident which took place in June/July this year saying that the company has not operated in that country since the beginning of 2017. “I have been trying to get to the bottom of the allegations on a daily basis.

“Since receiving the Notice from the Department of Customs and Excise, we have been in touch with them to present our side and clear up the matter as quickly as possible. The Acting Commissioner has not been available and we have been informed by email that the matter is under investigation,’ Maree said.

“However it is my fiduciary duty to protect the company’s reputation and integrity which has been built up over the past 21 years. Every day that the matter is not resolved increases the rumours and damage. In addition we have always been an organisation that has campaigned vigorously against all forms of illicit trade in all the countries where we operate.

“The company has traded across Southern Africa for the past 21 years establishing an impeccable reputation for ethical trade facilitation. Some of the world’s top companies are counted among Savino Del Bene’s clients and the company’s top executives have striven tirelessly in the local, national and international logistics industry to improve trade at all levels,” Maree said.

“In the light of this, we have called on the liquor industry to join us in tackling the scourge which has reached international proportions. Governments are losing billions of dollars in tax revenues, legitimate businesses are being undermined and consumers exposed to poorly made and unregulated products which the United Nations estimated in 2009 at US$2.1 trillion. The World Trade Organisation estimates that the value of counterfeit and pirated goods is equivalent to some 7% of the world’s merchandise,” he added.

“We have set up a meeting with the liquor brand holder involved and their attorneys to address the anomalies in this case and discuss cooperation going forward to tackle the problem wherever it may occur, particularly regarding Third World borders which can be vulnerable.”

Savino Del Bene is part of a worldwide corporate network that specialises in global logistics, freight forwarding, clearing and supply chain management operating in 47 countries with facilities in America, Africa, Asia, Europe, Australia and the Indian subcontinent.


 

 

About The Author

Intern

The Economist accommodates two interns every year, one per semester. They are given less demanding, softer issues to hone their skills, often with a specific leaning to social issues. Today, many of our interns are respected journalists or career professionals at economic and financial institutions. - Ed.

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.