Select Page

Growth in continental economy puts significant pressure on demand for affordable energy

Growth in continental economy puts significant pressure on demand for affordable energy

Africa’s demand for energy is steadily increasing and solutions to meet this growth have become a major concern for the industry continent-wide, owed largely to the immediate need for increased infrastructure, investment and political stability.

It is in this vein that African energy ministers and large energy company chief executives will be discussing and unpacking what the future game changers for the African energy sector will be and how to meet the escalating demand for cheaper energy at the Africa Energy Indaba taking place on 19 and 20 February in Johannesburg, South Africa. This year, the event will be held under the theme: ‘Africa’s Energy Future.’

According to a statement by the Africa Energy Indaba, the past few decades have seen significant improvements and growth in the African economy. With 1.1 billion people and rising, the continent is expected to boast the world’s largest working-age population by 2034.

A progressive economy requires substantial energy for increased scale of manufacturing, provision of services and transport. Energy remains an essential input to stimulate and ensure uninhibited economic development, driving economic productivity and industrial growth. In fact, energy remains fundamental to the functioning of any modern economy,” the Energy Indaba organisers stated.

According to projections published by the United Nations Population Division, Africa’s population has grown by 30 million people in the past year and by 2050, annual increases are expected to exceed 42 million people per year meaning that the total population will have doubled to 2.4 billion. This translates to 3.5 million additional people per month or 80 more people per minute. The vast increase in the number of people in Africa along with increased standards of living put significant pressure on the demand for affordable energy.

The Africa Energy Indaba is the continent’s premier energy conference and exhibition bringing together leading African and global energy players to unlock energy and business opportunities across the continent. The event is the World Energy Council (WEC) regional event for Africa and has strategic partnerships with the South African National Energy Association and the NEPAD Planning & Coordinating Agency.


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.