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Africa Oil Week explores the financial opportunities in the African oil and gas market

Africa Oil Week explores the financial opportunities in the African oil and gas market

Cape Town — Africa Oil Week (AOW) the leading event dedicated to the African oil and gas industry hosted a live broadcast by CNBC Africa focusing on the Global Funding Strategies and M&A for the African Upstream exploring how the key stakeholders tap into large pools of global capital to finance the sector. Editor-at-Large for CNBC Africa, Bronwyn Nielsen, interviewed experts including: Frank Pluta, Industry Banker – Energy Group Head, Energy & Natural Resources, Natixis, Somit Varma, Managing Director, Warburg Pincus LLC and Paul McDade, CEO, Tullow Oil.

AOW looked to the future of the energy sector through a topical session entitled Energy Transition Outlook to 2050. The panel heard the latest findings from DNV’s report and examined the region’s future energy mix in the context of the global picture, the outlook for conventional oil and gas demand and explored the impacts on regional energy projects and government policy. In the afternoon the focus was on gas looking specifically at the subjects of Gas to Power, Gas Monetisation and the African Gas Sales Equation.

The opening of the of Ghana 2018/2019 bidding round was hosted by Hon Minister John-Peter Amewu, Minister for Energy and held in partnership with PGS, generated huge interest as the blocks are located in the attractive Western Basin. Running concurrently to the plenary, and the Prospect Forum showcasing data packages from geoservice companies, was the Finance Forum which was filled with finance and investment experts from across the industry. These panels came together to discuss opportunities to drive transaction in African infrastructure, the role of global finance in the African upstream and developing financing solutions for African oil and gas.

The AOWomen Breakfast Briefing sponsored by Noble Energy and supported by African Women in Gas explored the topic of driving capacity and equality in Africa’s energy market. The opening address was made by Pam Darwin, Vice President – Africa, ExxonMobil followed by a high-profile panel including, Tracey Henderson, SVP – Exploration, Kosmos Energy, Lindiwe Mekwe, CEO, Petroleum Agency South Africa, Mahawa Kaba Wheeler, Director of Women, Gender & Development, Africa Union and Kelly Latter, Director of Exploration, Noble Energy. The panel underlined the importance of robust roadmaps for the development of gender equality and youth empowerment that will plant the seed for our next generation of global energy leaders.


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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.