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In the name of expansion

A computer-generated visual of the extended Walvis Bay Port

A computer-generated visual of the extended Walvis Bay Port

The hubbub surrounding the expansion of Namibia’s main import hub has finally reached some form of consensus. Namport’s CEO, Bisey /Uirab, recently announced that the tender process for the expansion of the Port of Walvis Bay has commenced with seven companies in close contention. According to the CEO, the tender process will follow the strict documented outlines and will further undergo the adjudication process. In a recent press statement, he emphasized the importance of the project,“I would like to take this opportunity to remind the greater public of the importance of this project not only for Namport but for Namibia and all SADC countries at large.
The Port of Walvis Bay is as a gateway into Southern Africa and is in desperate need of expansion since current cargo handling capabilities are reaching the upper limit of our existing capacities.”
In a private meeting with the Economist, the CEO explained that the project had been in consideration for the past 10 years. He said the past 5 years were crucial for the actual development of the project,“As Namport has grown into a fully-fledged regional port facility serving not only Namibia but also our neighbouring countries of Botswana, Zambia, Zimbabwe, DRC and Angola, we needed to expand our capacity to serve those markets,”said /Uirab.
The whole project is seeking a company which can construct and finance a new container terminal on reclaimed land, a quay wall, quay cranes and dredging works. /Uirab noted, “The main feature is that it will increase the container capacity from 355,000 container to around 1 million containers per year. This will impact further on our capability of handling larger vessels for bulk cargo too.” He further explained, “The construction is based on reclaimed land so the first phases will involve dredging a new basin and using that material to construct the new terminal.”
The CEO said Namport is at an advanced stage of finalizing financing discussions. He said that once this was concluded, relevant announcements will be made to all interested stakeholders. He further said, “The successful adjudication and award of this tender is of utmost importance and we will endeavour to complete both the evaluation process and commencement of construction of this national asset in the shortest possible time.”
The seven companies bidding for the project which is expected to start later this year and end in 2017 are Sinohydro Corporation Limited (China), Construtora AOS S.A. (Brazil), China Gezhouba Group Company Limited (China), Walvis Bay Harbour Contractors (R.S.A.) Dredging International N.V.(Belgium), Soletanche-Bachy International (France), Consolidated Contractors Company (Greece) STFA (Turkey); Jan de Nul N.V.(Belgium) China Harbour Engineering Company Ltd (China) and lastly the RMB Consortium.

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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.