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Judge Mervyn King in Windhoek next week to address Corporate Governance conference

Judge Mervyn King in Windhoek next week to address Corporate Governance conference

The pioneer of the importance of corporate governance in Africa, South Africa’s Judge Mervyn King is in Windhoek next week to bring gravitas to a continental conference on governance. Hon Leon Jooste, the Minister of Public Enterprises, is the keynote speaker.

The conference is organised by the Namibian chapter of the Institute of Corporate Governance.

The Windhoek conference is the 12th bi-annual conference of the African Corporate Governance Network. It is scheduled for Thursday 8th and Friday 9th of March at the Safari Hotel and Conference Centre. The theme is “Corporate Governance as a driver of sustainable economic development. The local Institute of Corporate Governance said the presentations and break-away sessions are aligned to embrace challenges, forge solutions and define the future of governance in Namibia first but also in the wider context of the African continent.

Delegates from more than 20 African countries indicated that they will attend.

The presenter line-up comprises Patrick Chisanga, a governance consultant and member of the IFC Private Sector Advisory Forum; Mr Said Kambi, the African Corporate Governance Network Chairman and Chief Executive of IOD Tanzania; Dr Daniel Malan, the Executive Director of the Centre for Corporate Governance in Africa and member of the WEF Council for Values; and Dr Lucy Newman, the Chief Executive of FITC Nigeria.

Local speakers are Mr Sven Thieme of the Chamber of Commerce and Industry and Executive Group Chairman of the Olthaver & List Group; Ms Kauna Ndilula, the Managing Director of BFS Nampro Fund; Mr Mihe Gaomab II, an Executive Director at the African Development Bank and Mr Steve Galloway, the ICG (Namibia) Director.

Mr Richard Frederick, a leading global experts on SOE governance will host a workshop for all delegates.

Presentations and panel discussions will look at governance as driver of value creation and an incentive for accelerated foreign investment.

The role of capital markets and the specific viewpoint of leading African institutions will add to the depth of exchange. From a local perspective, the role of governance in competitive business practices for Namibian companies will be discussed.

The Chairperson of the Namibian chapter of the Institute for Corporate Governance, Mr Escher Luaanda said conference partners include the Namibian Stock Exchange, the Namibia Chamber of Commerce and Industry, and the African Corporate Governance Network.

“Responsible businesses are now expected to engage in business practices that create sustainable value in the long term. We need to work collectively in Namibia. The continent is increasingly exposed to serious sustainability challenges such as water scarcity, climate change, corruption and poverty. Hence, our deliberations which attempt to link governance practices to positive economic benefits,” he said.

The conference is sponsored by Standard Bank Namibia, as platinum sponsor, along with Air Namibia, PwC, Deloitte, and the International Finance Corporation.


 

 

About The Author

Mandisa Rasmeni

Mandisa Rasmeni has worked as reporter at the Economist for the past five years, first on the entertainment beat but now focussing more on community, social and health reporting. She is a born writer and is working on her degree in Journalism at the Namibia University of Science and Technology (NUST). She believes education is the greatest equalizer. She is the epitome of perseverance, having started as the newspaper's receptionist in 2013.

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.