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Fresh cold seawater, financing and expertise combine to establish new mariculture industry in Lüderitz

Fresh cold seawater, financing and expertise combine to establish new mariculture industry in Lüderitz

The O&L subsidiary, Hangana Seafood, last week Friday inaugurated the first phase of its N$60 million abelone (perlemoen) farming project in Lüderitz, bringing to Namibia a potentially lucrative industry with a vast potential for growth once the nuts and bolts of this specialist enterprise has been determined.

Hangana Seafood Managing Director, Herman Theron, said their new venture will be a significant employer once the project runs at full capacity. Hangana has already spent some N$40 million in the first phase, establishing a farm that can produce roughly 35 metric tonnes of abelone per year. As the facility is expanded, production of 100 tonnes per year is targetted, in the process creating about 300 new jobs.

The Lüderitz abelone farm has existed for several years but the enterprise required further capitalisation to unlock its enormous potential. Abelone is a highly popular and expensive seafood with a huge demand in Asia. Demand for this marine commodity is so high that prices have escalated into the stratosphere. For this reason, it is favourite item with smugglers but it has also lead to the overexploitation of wild population’s along the South African coastline.

Lüderitz with its clear, cold, well-oxyginated water is an ideal locality to farm abelone.

Namibia is rich in resources, with unlimited potential in the Atlantic ocean. As a leader in the local fishing sector, Hangana Seafood is proud of this new venture which will set Namibia apart as a significant producer of such a delicacy, Theron commented.

Minister of Fisheries and Marine Resources, Hon Bernard Esau said this investment demonstrates that there are lucrative investment opportunities at the Namibian coast, other than just fishing rights and quotas.

“To the O&L Group and Hangana Seafood, I wish to say that you are demonstrating, through concrete actions, that you are serious about creating jobs, investing in fisheries, and giving meaning to the Government’s call to develop this country,” said Esau.

He continued ”Abalone farming is ecologically and economically viable in Namibia, and it is a lucrative product whose market demand far exceeds global supply. Abalone production here in Lüderitz, and indeed all along the coast of Namibia is sustainable as it only needs kelp, a type of seaweed, to feed it. I understand that abalone is to the sea what rhinos are to land. With prices exceeding N$500 per abalone, poaching of this marine species in the wild is a global problem that all governments are closely cooperating on.”

Ohlthaver & List Executive Chairman, Sven Thieme said “The Hangana Abalone Farm was identified as a huge opportunity to invest in the Karas Region by creating employment for the people and community, and in so doing uplifting the lives of our fellow Namibians, in particular the community of Lüderitz.”

Currently, the main export market for abalone is Asia,particularly Hong Kong.


Caption: Minister of Fisheries and Marine Resources, Hon Bernard Esau (left) congratulating the Managing Director of Hangana Seafood, Herman Theron on his company’s pioneering role to establish abelone farming as a viable mariculture enterprise.


 

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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.