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Atterbury develops largest commercial property

Atterbury, a South African property investment and development company will develop Namibia’s largest single commercial property, the 54,000sqm Mall of Namibia- The Grove in Windhoek, with Demashuwa Properties and Safland Property Group.
“The three-levels of appeal shopping, restaurants and entertainment at The Grove will open in September 2014, launching Namibia’s dominant retail mall,” said Atterbury Property Developments Managing Director, James Ehlers.
The N$1.3 billion Mall of Namibia, The Grove will be in Klein Kuppe. This mixed-use estate will include a hotel, offices, apartments, medical centre and health and fitness centre. Already, Mall of Namibia – The Grove’s neighbours include Food Lover’s Market and Metro, creating an exciting retail precinct in Namibia’s capital city, with superb access for local residents, visitors and tourists alike.
The Mall has already secured Game, Shoprite, Woolworths, Edgars and Spar stores as anchor tenants. Other tenants already signed include Truworths, Dis-Chem, Jet, Tekkie Town, Pep, Ackermans, Jay Jay’s, Legit, Sportsmans Warehouse, Rhapsody’s, Vida E, Clicks, Spar, Cappuccino’s and Wimpy.

“Several retail brands have also chosen to make their Namibian début at the Mall. There is also keen interest from local Namibian retailers. Besides being a valuable retail asset for Namibia and a major tourist attraction, The Grove will boost the local economy with valuable employment generation.” said  Cobus van Heerden, Retail Director at Atterbury Property Developments.
The Grove will include Namibia’s most cutting-edge cinema experience as well as a great variety of contemporary restaurants offering open-air dining under the African Sky, with spectacular views of Windhoek.
During its construction, Mall of Namibia – The Grove will create direct employment opportunities for 700 people. Once open, retailers and centre operations will create between 1,200 and 1,500 permanent employment opportunities.
The superlative design of this world-class mall is a product of collaboration between South African Boogertman Architects and Namibian Howard and Chamberlain.

 

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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.