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Road Fund Authority avails N$500 million bail out to Roads Authority – Payment of overdue contractors invoices commences

Road Fund Authority avails N$500 million bail out to Roads Authority – Payment of overdue contractors invoices commences

The Roads Authority (RA) last week said it had commenced with the payment of outstanding invoices to owed to various contractors.

At a press briefing last Friday, CEO of the Roads Authority, Conrad Lutombi, confirmed that RA owes contractors and consultants an amount of N$500 million, which was due from end of January.

At the meet Lutombi announced that the issue of payments was resolved at a meeting held between the Ministry of Finance, Road Fund Administration (RFA) and RA, for the RFA to avail funds, in the form of a loan to the government to settle the outstanding invoices.

According to Lutombi, the loan will be repaid over a period of 12 months.

The Road Fund Authority CEO, Ali Iipinge, confirmed that the RFA commenced on Friday with the disbursement of N$250 million for the settlement of invoices.

Iipinge said the remaining balance of N$$250 million will be paid out to contractors and consultants during the course of this week from 25 February to 1 March.

The projects that were initially affected and whose invoices will be settled as part of this agreement are as follow: Windhoek – Okahandja road (Section 4a); WalvisBay – Swakopmund road (Phase 1); Swakopmund – Henties Bay road (Section 1); Isize – Namalubi – Luhonono road and the Onhuno – Endola – Okatana road (4km dual carriageway between Okatana and Oshakati).

Meanwhile Lutombi, expressed gratitude to the RFA and the government for finding a quick and favorable solution that will see that all outstanding invoices are settled and for work to resume immediately.

The CEO further confirmed that the above projects were budgeted for and will be completed as originally planned.


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Following reverse listing, public can now acquire shareholding in Paratus Namibia


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.