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FirstRand renews membership with Recycle Namibia Forum

FirstRand renews membership with Recycle Namibia Forum

The FirstRand Namibia Foundation Trust reiterated its commitment to the Recycle Namibia Forum (RNF) by renewing membership for the current financial year.

Coordinator of the Recycle Forum, Anita Witt, thanked the FirstRand Namibia Foundation Trust who first joined the forum as a full member in the Large category in 2015.

Witt said During 2011/12, FirstRand Namibia donated recycling stands via its Global United Football Club Climate Kick initiative to several schools in Windhoek, the coast and the north.

According to her, this support by FirstRand Namibia was instrumental in getting this important project off the ground and saw the number of schools increase from 10 to close on 40 in 2012.

“In 2016, a further recycling stand donated by FirstRand Namibia enabled the town of Aranos to become the first town to collect, sort and transport recyclables to Windhoek. This donation was in support of Retha Olivier’s Trots Aranos project, and she has since gone on to win numerous awards for her community involvement and upliftment,” Witt said.

Revonia Kahivere, Corporate Social Investment Manager said that the overall, the country also needs to enhance its efforts of recycling, re-using and reducing waste that ends up on landfills.

Earlier this year, FirstRand Namibia and RMB became the first institutions to set up collection points for used household batteries within their offices (one on each floor) which is in line with their Green building and ensuring that waste is properly and correctly disposed of.


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.