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DBN to build on 2011 successes

The implementation of the Development Bank of Namibia’s strategy in respect of its balance sheet growth and the growth of its loan book and advances continued to be the bank’s priority in 2011 according to DBN CEO David Nuyoma.
“In terms of loan book growth, we are on target. We have had approvals of more than N$0.5 billion, which will soon be translated into actual disbursements or advances. The important indicators of the DBN’s contribution to the economy are the investments taking place, which shows the impact of loans and advances by the bank – actual dollars and cents – and the jobs that are being created as a result,” said Nuyoma.
The Development Bank also witnessed the actualisation of a number of projects approved in 2010 that are now operational. It experienced an increase in SME funding by introducing an SME term loan, a product offered through partner financial institutions in the past.
“The implications of the growth of the bank’s business necessitated a refinement of the institution itself, in order to be able to continue to cope with the increased responsibility and volumes of activity,” noted Nuyoma.
The DBN did this by streamlining organisational effectiveness through expansion of its management information systems to accommodate the various activities of the bank and so increase efficiencies in the management of data.
The year further saw a comprehensive assessment of measures to ensure the sustainability of the bank in the context of its long term commercial viability, and the development of a framework to enable the tracking of all the factors related to this.
“With the framework, any movement with balance sheet impact will be detected and addressed,” Nuyoma added.
The bank’s target balance sheet strategy saw the development of an organisational structure aligned to the new corporate direction.
“We have to align ourselves in a manner that is robust, efficient, effective, and remain conscious of our own sustainability as an organisation.
“The corporate strategy will help us look at ourselves and work on aspects that can contribute to organisational perfection or refinement. The framework is comprehensive and can become a model for other institutions if we succeed,” Nuyoma noted.
According to Nuyoma, a key challenge faced in the past year included operating in an environment marked by yet another economic slow-down, which has had a dampening effect on large projects in particular.
“The bank’s focus for 2011 was to identify whether the organisation was in a position to cope with the demands of a rapidly growing institution and fulfilling its mandate in a sustained manner. As a result, 2011 saw us re-looking at ourselves, going back to our mandate and looking at how efficient and effective we are. We also looked at the bank’s sustainability, which is a key issue. The experience of the past year and the strategic framework set for 2012 shows us that there are certain lines that we won’t be able to cross. The bank’s sustainability is of great importance if it is to continue to contribute meaningfully to Namibia’s economy. Based on the foundation and tenor set for the coming year, I’m really looking forward to 2012,” he concluded.

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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.