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Standard Bank appoints new executives

Standard Bank appoints new executives

Standard Bank this week announced the appointment of Anne Juuko as the new Head, Corporate and Investment Banking (CIB) while Titus Ndove, is the new Head of Public Sector and Market Intelligence at Standard Bank.

Juuko replaces the current CIB Head, Amit Mohan who will be moving to Europe and complete his tenure at the Bank at the end of February 2018.

Prior to joining the Bank, Anne Juuko was most recently the Executive and Head of Global Markets at Stanbic Bank in Uganda where she led an extremely successful team that most notably won the highly coveted Primary Dealer of the Year award for 6 consecutive years. Prior to taking up the Global Markets role, Juuko held the role of Head Sales Global Markets at Stanbic Bank Uganda. Before joining Stanbic Bank Uganda, Anne worked at Citibank as Vice President, Customer Sales and Derivatives Marketing based in Nairobi, Kenya.

Juuko possesses enormous wealth of experience and is bringing breadth of Treasury and Investment Banking experience. She holds a Bachelor of Commerce degree from Makerere University in Kampala, Uganda and a masters degree in Strategic Planning from the Herriot Whatt Business School in Edinburgh, Scotland. Juuko has also completed various professional courses and programmes in management and leadership.

Welcoming her on board, Standard Bank’s Chief Executive Vetumbuavi Mungunda said: “We are most pleased that we will benefit from her vast experience and her strong business acumen, strategic mind-set and strong client orientation.”

Ndove on his part was, until recently, the Deputy Permanent Secretary, Treasury and Accountant General at the Ministry of Finance. Prior to his appointment at the Finance Ministry, Ndove worked at the Bank of Namibia (BoN) as the Director of Financial Markets.

He is a University of London graduate with a MSc in Financial Economics. He also holds a Bachelor of Economics from the University of Namibia. In addition, Ndove is a Macro Economics and Financial Management Institute of Southern and East Africa (MEFMI) Graduate Fellow specialising in Domestic Debt Markets.

He also attended International Executive Development Programmes with the London Business School and Wits University.

Ndove is a highly experienced leader with exceptional knowledge and excellent stakeholder relation skills. “His understanding of the Namibian macro-economic, financial markets and socio-political environment will greatly benefit the bank as we navigate the opportunities and challenges in pursuit of our purpose and strategic objectives,” said Mungunda.

Both Juuko and Ndove will be reporting directly to Mungunda.


 

 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

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.