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November vehicle sales offer mixed results but bakkie sales improve significantly

November vehicle sales offer mixed results but bakkie sales improve significantly

After taking another blow in October, new vehicle sales grew strongly in November, mostly on the back of bakkie sales.

IJG Securities, in their latest assessment of vehicle sales, stated “A total of 1185 new vehicles were sold in November, representing a 30.9% month on month increase from the 905 vehicles sold in October, and a 17.3% year on year increase from the 1010 new vehicles sold in November 2017.”

Year-to-date 11,143 vehicles have been sold of which 4755 were passenger vehicles, 5765 light commercial vehicles, and 623 medium and heavy commercial vehicles.

Despite the significant year on year increase, vehicle sales were still down almost 10% on a twelve-month cumulative basis. Year to date sales of passenger vehicle are also down.

“Year-to-date passenger vehicle sales amounted to 4,755, down 7.7% compared to the number of new passenger vehicles sold by November last year. The rolling 12-month vehicles sales figures continue to reflect weakness in the number of passenger vehicles sold, declining 8.1% y/y as at November 2018,” stated IJG.

Commercial vehicles have performed substantially better, contributing most to the monthly and yearly improvement.

“791 new commercial vehicles were sold in November, representing a 56.3% month on month and 29.2% year on year increase. 716 light commercial vehicles, 20 medium commercial vehicles, and 55 heavy commercial vehicles were sold during the month.”

On a year-on-year basis, light commercial sales rose by 33.1%, medium commercial sales decreased 20% and heavy and extra heavy sales rose by 12.2%. But on a twelve-month cumulative basis, light commercial vehicle sales dropped 12.4% while medium commercial vehicle sales rose 1.7% and heavy commercial vehicle sales rose 1.9%.

“Toyota continues to lead the market for new passenger vehicle sales in 2018 based on the number of new vehicles sold, claiming 33.8% of the market, followed by Volkswagen with a 28.6% share. They were followed by Hyundai and Kia at 5.7% and 4.9%, while the rest of the passenger vehicle market was shared by several other competitors.”

Toyota is the undisputed leader in bakkie sales, claiming more than 56% market share with Nissan second at just under 20%. Ford had to be satisfied with an 8% market share and Isuzu just under 5%.


 

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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.