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Finland supports transport sector

Daniel Nghidinua and Finnish Charge d’ Affaires, Her Excellency Anna SalorantaThe Walvis Bay Corridor Group (WBCG) and the Embassy of Finland recently signed a N$889 600 funding agreement, which is aimed at developing the Walvis Bay Corridors and the Port of Walvis Bay further.
The ‘Enhancing the Trade and Transport Facilitation Capacity of Namibian Logistics Services Providers and Follow up Mission to Finland’ agreement was signed in Windhoek by the Finnish Charge d’ Affaires, Her Excellency Anne Saloranta and Daniel Nghidinua, board member of WBCG.
The overall objective of the agreement is to improve the baseline for operating conditions on specific transport corridors in southern Africa to stimulate economic growth. This project will also focus on training and development, trade and transport facilitation, and a follow – up mission to Finland, including participating in the Logistics Transport Exhibition. Funding received through the agreement will also go towards supporting the growth and development of small and medium enterprises in the transport sector.
The grant agreement stems from a strong relationship with the Finnish Embassy on possible collaboration and synergies on how best to support the development of the Walvis Bay Corridors and the Port of Walvis Bay in its quest to become the transport hub of choice for the SADC region and the rest of the world.
The WBCG continuously working to source funds for relevant projects, which can add value to the Walvis Bay Corridors.
This is the second time the Finnish Embassy provides funding to WBCG. Two years ago, the embassy also funded a tour of WBCG members to Finland as well as an Economic Benefit Study to assess the economic impact of corridor development activities in the medium  to long term.
The agreement for the project which will be carried out over a year and a half, was signed as part of the Fund for Local Cooperation of the Embassy of Finland, which aims to eradicate poverty through  economic, social and ecological development.
The WBCG is duly mandated by the Ministry of Works and Transport to be at the forefront of facilitating trade in the SADC region and the development of transport infrastructure and facilities.

About The Author

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.