Select Page

Council of Ministers meet takes place in Togo

Council of Ministers meet takes place in Togo

The meetings of the 107th Session of the ACP Council of Ministers and the 43rd Session of the joint ACP-EU Council of Ministers are being held in Lome, Togo. The events commenced on on 26 May and will conclude on 1 June.

Hon. Tjekero Tweya – Minister of Industrialisation, Trade and SME Development, who is a Member of the ACP Council of Ministers and also the current Chairperson of the ACP Ministerial Committee on Development Finance, led the Namibian delegation to the above-mentioned meetings.

The Namibian Ambassador to the Benelux Countries, Dr. Prof. Kaire Mbuende and officials from Embassy accompanied him to the meetings.

The current president of the ACP Council of Ministers is Hon. Kamina Johnson-Smith, Minister of Foreign Affairs and Foreign Trade of Jamaica in her opening remarks stressed that, the 107th Council Session is taking place at the opportune time, when the ACP Group is poised to take major decisions regarding its future and its relations with the EU post – 2020.

The main focus of the meeting is to approve the Negotiating Mandate for a new ACP-EU Partnership Agreement post Cotonou.

The Cotonou Partnership Agreement that regulates relations between the ACP States and the European Union will expire in 2020. According to the partnership agreement, ACP and EU are required to start negotiations 18 months prior to the expiry of the agreement.

It is in this context that the ACP has discussed and adopted its negotiating mandate. The mandate is designed to establish a comprehensive partnership between ACP and the EU with focus on three pillars.

Meanwhile the ACP Council meeting will be followed by the 43rd Session of the ACP-EU Joint Ministerial Council to discuss, among other things, preparations towards the commencement of negotiations on an ACP-EU post-Cotonou Partnership Agreement. Discussions will also cover pertinent issues of concern to both partners such as immigration, climate change, domestic resource mobilization, Implementation of the EPAs, European External Investment Plan.

Eralier tis week Namibia chaired the ACP Ministerial Committee on Development Finance Cooperation (DFC), which discussed crucial issues for economic growth and development of ACP countries including domestic resource mobilization.

Similarly, Namibia will Co-Chair the Joint ACP-EU Development Finance Committee meeting to be held on 31 May.

In addition, Namibia is expected to undertake bilateral side meetings with the Republic of Vanuatu, Estonia and Bulgaria to exchange views and strengthen relations.


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.