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FNB HQ consolidated into one building

The representation of the new FNB headquarters once the project has been completed.

The representation of the new FNB headquarters once the project has been completed.

FNB this week announced that the construction of its new, consolidated administrative headquarters will commence soon. Ian Leyenaar, CEO of FNB explained that it has always been a vision of FNB Namibia to consolidate their four buildings into one and this vision is now closer to reality.
“We believe that we have at last found a location that suits our needs of providing sufficient space for current needs and anticipated future growth.
FNB Namibia is the largest locally listed company on the Namibian Stock Exchange and is 41% locally owned with a workforce of more than 1800 people. FNB is growing its local investment by putting up a building worth N$425million.
“Currently our divisions and business units are scattered across Windhoek in four different property locations and this means that efficiencies and advantage of economies of scale are not achievable, resulting in a duplicating of cost structures to manage the greater business. We have also outgrown the current buildings from a future growth perspective,” he said.
Leyenaar added that FNB was particularly excited about the fact that the building will be a ‘green’ one.
It will be located on Independence Avenue with a site area of 4595m2 and a Gross Letable Area of 15,927m2. There will be a ground floor, five office floors and six basement levels. 685 parking bays will be available and initially the staff compliment will be 775 with a maximum capacity of 1100.
The estimated completion date is the first quarter of 2015.

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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.