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Local bank encourages saving from a tender age

Local bank encourages saving from a tender age

For saving to become an ingrained culture, it is important that financial literacy is extended to the younger generation and teaching them the real benefits of saving, said Hayley Allen, Head of Corporate Affairs at Bank Windhoek.

Allen added that teaching children about the value of money at a young age will give them an understanding of what it means to save, to do financial planning and budgeting and helps steer them away from bad or unnecessary debt when they become working adults.

“With the New Year and a new academic school year, parents can give their children a financial head start by opening up a Bank Windhoek Solo Account, a savings and transaction account tailor-made to the needs of children and young adults up to the age of 18 years,” Allen said.

The Solo Account comes with a Visa Electron Debit card, allowing children to shop at their favourite shopping outlets without the risk of carrying cash.

“Paying with their Solo Debit card at the Bank Windhoek point-of-sale devices also has carries the additional benefit no transaction fees for their purchase. Children can also choose their Solo card from our range of four funky Solo Visa Electron Debit card designs,” Allen said.

The Solo account will also offer the following benefits: No monthly service fees, free ATM withdrawals at Bank Windhoek ATMs and access to Cellphone Banking for features such as airtime top-up, EasyWallet and payments to beneficiaries. Furthermore it gives favourable interest on funds in the Solo Account, free balance enquiry and mini-statement at Bank Windhoek ATMs and debit- and stop orders can be linked to the account.

Caption: Hayley Allen, Head of Corporate Affairs at Bank Windhoek.


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


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.