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Namibia sends 41,500 Swakara pelts to the Copenhagen Fur Auction

Namibia sends 41,500 Swakara pelts to the Copenhagen Fur Auction

Namibia send a consignment of 41,500 Swakara pelts to the Copenhagen Fur Auction House on Thursday and is expected to arrive by 5 March. The pelts are expected to go under the hammer in Denmark on 18 March.

Swakara Pelt Centre’s manager, Jaco van Zyl this week said that the exchange rate is currently not very favourable for sales after the South African Rand which is linked to the Namibia dollar recently strengthened against the U.S Dollar.

“Currently, we are 6% worse off in Namibian Dollar compared to the Sept. 2017 auction. Nonetheless, with our smaller offer we should not struggle to sell our pelts. But if our offer shrinks even further, important buyers will be losing interest because they cannot fulfil their orders,” he said.

According to him in total 43,500 pelts were submitted by swakara producers. All pelts handed in at the various Agra branches, are sent to the pelt centre in Windhoek, where it is sorted and packed.

“After the rejects as well as the grey and brown pelts were withdrawn, we were able to send about 41 500 pelts to Copenhagen.The number of white and spotted pelts are about 6% more, compared to April 2017’s offer,” he said.

Meanwhile, Van Zyl said during February’s mink and chinchilla auction in Copenhagen, 99% of all pelts were sold, with a small increase that was noticed in prices.

“Especially the chinchilla, which is, like swakara, a small offer was sold at good prices. Winters in America, Europe and Russia were cold, which is generally good for fur sales,” Van Zyl added.

Meanwhile, Van Zyl said that the Swakara Council’s chairperson, Julene Meyer, travelled to China at the end of 2017 and returned with positive feedback from prospective Chinese buyers.

Swakara is a relatively well-known fur in China and is increasingly gaining ground in the Chinese fashion-scene.


 

About The Author

Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

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.