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Government has high hopes to deliver on development- Geingob

Government has high hopes to deliver on development- Geingob

President Hage Geingob, said the government has high hopes to deliver on development and prosperity of civilians and in order to do that, corruption, crime and poor implementation of policies and programmes should be tackled.

The president echoed this during a speech he delivered at the 28th Independence celebrations in Tsumeb on Wednesday.

“It is disheartening to note that allegations and perceptions of corruption continue to taint our Government. This has led to the public losing faith and confidence in a few government ministries and agencies. We cannot allow corruption to sabotage 28 years of progress. Corruption undermines stability and social cohesion,” Geingob said.

He further noted that interventions aimed at addressing these imbalances should therefore be supported, adding that his State of the Nation address on 11 April will provide more detail on the set out action plans.

“Of late, it has been upsetting to note the frequency of reports of violent crime, mainly aimed at the most vulnerable members of our society. I direct our security services to ensure that the safety and security of the people of Namibia, as well as that of our friends and visitors is guaranteed,” the president stressed.

Furthermore, Geingob reiterated that one of the primary points of his government has been to address the scourge of poverty. Geingob further admitted that there are still many mountains to climb and frontiers of possibility to pursue, adding that if Namibians pull together as one, remain steadfast in the pursuit of a great country, and adopt a unified approach towards achieving national aspirations; it will not be long before the goal of shared prosperity is accomplished.

“As Namibians, we have much to be thankful for and much to look forward to. For 28 years we have remained resolute in upholding the values of unity and peace. These values have served us well during the difficult times we have faced. We are now at a pivotal point in our nation’s history. The road ahead is filled with countless opportunities for Namibians to establish themselves as a people of character, a people of purpose, and a people with a shared destiny,” he said.


Caption: President Hage Geingob delivered the Independence Day statement at the ommemorations in Tsumeb, Oshikoto Region on 21 March.


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

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.