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Elso rebrands popular cleaning agents, unveils plans for strategic growth in local manufacturing

Elso rebrands popular cleaning agents, unveils plans for strategic growth in local manufacturing

Under the guidance of private equity investor Eos Capital, its most recent acquisition, Elso Holdings, went back to the drawing board to redesign the look and format of its market leader, Citro multipurpose cleaner.

Elso Holdings, a local manufacturer and distributor of household and industrial cleaning products, donned its Eos hat last year March when former owner and Chief Executive, Rene Rusch, accepted an offer from the new investor. Elso was on top of a wave, having just announced an extensive deal to be the local agent for the South African company,  Goscor Cleaning Equipment.

Eos Capital made the investment in Elso through its Allegrow fund.

In the meantime, Hilton Loring has taken over from Rusch in August last year, immediately shifting his focus to local manufacturing as this is the area where Eos Capital believes the greatest potential for growth lies. It is also the area where the investor sees the biggest opportunity for local value adding and for job creation.

At its first stakeholder meeting this week Wednesday, Elso Holding used the platform to unveil a new range of products, and to unveil its new label design for its flagship household cleaner, Citro. “Elso is today the only local manufacturing company in Namibia that is offering a multipurpose cleaner as well as a glass cleaner,’ the company said at the meeting.

“Elso has a strong potential to grow on its proven manufacturing track record and strong historic base. Over the next two years, Elso will be embarking on a number of expansion programmes to ensure that the company achieves its strategic goal to create a strong manufacturing business within Namibia, which in return should increase jobs,” stated Eos Executive Chairman, Johannes !Gawaxab.

Elso already has a strong manufacturing base with production facilities in Swakopmund and Windhoek employing over 140 people. Elso is upgrading its manufacturing base to modernize the factory and consequently, extend the range of products and packaging.

Since August last year, Elso has signed a number of innovation contracts with key suppliers to fast track new trends and ingredients in cleaning agents and solutions. Elso said it is committed to build on its green and affordable legacy.

“We are proud of our heritage and we would like to thank all our partners, customers, suppliers and our employees for their support in building the business to the great business it is today. We would like to invite all our stakeholders to be part of our exciting journey as we grow into our promise,” stated Loring in his first public appearance as new Chief Executive.

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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.