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Inmates continue to embark on a financial freedom journey

Inmates continue to embark on a financial freedom journey

By Linda Machinga

Bank Windhoek and Adonai Trust recently trained 86 inmates from Walvis Bay’s Correctional Facility on Money Map training session, under the theme ‘Your journey to financial freedom’.

The session was facilitated by pastor Martin Ganseb from Alpha Course Prison Ministry, and the training comprised of 38 male and 48 female offenders.

“The participants found the initiative financially educative. For instance, those who have been convicted of theft, testified that they practised integrity in the past, they would not have been in prison. As a result, they promised to never repeat the offence once given a second chance,” said Ganseb.

The main purpose of the training was to guide individual inmates to achieve a biblical, joyful and stress-free financial future, the Money Map training sessions covered a variety of topics that educates the inmates on financial, spiritual and mental fitness as they serve their sentences and beyond.

Adonai Trust’s co-founder Sanet Vermeulen said “The Walvis Bay training session was conducted and received well by the inmates who expressed their gratitude at the end of the gathering. Thank you Bank Windhoek for making this possible”.

The Money Map training session which is expected to benefit close to 200 inmates at four correctional facilities across the country, has three more seminars scheduled to take place at the following correctional facilities: Divundu from 15 to 21 October, Elizabeth Nempembe 22 to 28 October and Keetmanshoop 12 to 18 November.


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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.