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Swakara sales in Copenhagen undeterred by overproduction of mink skins – 100% of offering sold at auction

Swakara sales in Copenhagen undeterred by overproduction of mink skins – 100% of offering sold at auction

The Swakara industry recently had a good international pelt auction, amidst a fur market that is still experiencing an overproduction of mink skins and has not fully recovered from the recent global economic crisis.

The auction was held in Copenhagen, Denmark on 18 March, and according to Jaco van Zyl, Agra’s Pelt Centre Manager, 100% of the offering was sold during the auction. The auction was attended by 25 successful bidders.

The March 2018 consignment consisted of 26,601 black (63.6%), 10,920 white (26.12%), 3,513 spotted (8.4%) and 775 diverse pelts (1.8%).

The local producer who had more than 250 pelts at this auction, was Karasberge Karakoel Stoet, who achieved an average price of N$879.78 for 381 pelts.

An average price of N$476.38 was achieved for the 41 809 pelts that were sent to the auction by Agra Pelt Centre. This is a decrease of 4.1%, compared to the auction results of September 2017, where an average price of N$496.98 was achieved for a total of 39 007 pelts.

However, in Danish Krone the average was DKK240.57, an increase of 0.11% compared to September 2017’s auction.

The black top lot, 70 O Light Selected Extra pelts, was sold for N$1 980.20 to Konstantinou Furs, a fur retailer from Kastoria, Greece. The white top lot, 50 White KF Selected pelts, was sold to Yury Polyakov, a Russian retailer, for N$2 178.22 per pelt.

English buyers bought the most pelts, with Greece buyers second in line and Hong Kong third. More Chinese buyers also attended the auction.

The buyer who bought the most Swakara pelts, was Hurwitz Exports Limited, based in England. Hurwitz bought 36 lots with 9 647 pelts, followed by Bourtsos from Greece, who bought 5,841 Swakara pelts.

The average price achieved for black Swakara pelts was N$408.48, a decrease of 11.01% compared to September 2017’s international auction. White pelts achieved an average price of N$735.95, a decrease of 4.13% compared to September 2017’s auction. The price for spotted pelts sold at an average of N$267.81 an increase of 4.05% compared to September 2017’s auction.

Van Zyl noted that although there were more active buyers at the auction compared to September 2017, they were more selective in their buying. “High quality pelts received good prices, compared to the lower quality pelts that received prices that were below expectation,” van Zyl said.


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.