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Entrepreneurs encouraged to approach bank to access funding

Entrepreneurs encouraged to approach bank to access funding

Entrepreneurs are invited to make use of business financing opportunities at Bank Windhoek’s Emerging Small and Medium-sized Enterprises (ESME) Finance Branch.

The Bank’s ESME branch manager, Mbo Luvindao in a statement encouraged entrepreneurs to step forward with new, different and innovative ideas despite challenges currently being faced by the local economy.

“Regardless of the current challenges, entrepreneurs with that mind-set will be successful and will position their businesses optimally for when our economy recovers. This attitude takes a lot of character,” Luvindao said.

Entrepreneurship requires initiative and taking risks, but often, the end of the journey, yields high reward, he said.

It is through this therefore, that the Bank is calling on aspiring and established entrepreneurs to approach the ESME department with their business plans and request for funding to either start their businesses or expand or diversify their existing business portfolios.

Luvindao said that the process of proposal evaluation and SME loan applications is quick and service delivery is of the highest standard at ESME Finance Branch.

“All proposals received are assessed for their financial viability based on responsible lending principles. We do not only provide loans, but also business mentorship to selected Bank Windhoek SME loan applicants to ensure that they acquire the necessary skills and support to run their business successfully,” said Luvindao.

“Bank Windhoek is committed to being a catalyst of sustainable opportunities for the growth of Namibia’s economy, especially amongst women and the youth with viable business ideas. The vision of Bank Windhoek’s ESME Finance Branch is to see an increasing number of emerging, small and medium enterprises growing into sustainable businesses, creating new wealth and new opportunities that benefit the Namibian economy,” added Luvindao.

The Bank’s ESME Finance Branches are located in Windhoek and in Oshakati. Entrepreneurs are thus invited to approach or contact their nearest Bank Windhoek Branch or agency for assistance.


 

 

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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.