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AI developer grabs top accolade at Africa Tech Week

AI developer grabs top accolade at Africa Tech Week

Cape Town – A South African developer of Artificial Intelligence software and solutions, Dr Jacques Ludik, has just received a premium accolade at the Africa Tech Week for his dedication to data science innovation.

Dr Ludik is the founder of Cortex Logic, a company that continues its founder’s 25 years’ work in AI ecosystems and data science. Ludik was formally a founder of Bennit AI, Mosaic, SynerG and CSense Systems, the latter being Africa’s first AI company sold to General Electric in 2011. He has published a wide range of both academic and industry papers. He is also a big support of the role of AI to improve the lives of ordinary people at social level.

Cortex Logic is an African Artificial Intelligence (AI) software and solutions company that helps businesses thrive in the Smart Technology Era.

Upon receiving his award, Dr Ludik said “It’s such an honor to receive any award and this one is special because it comes at a time when AI is moving beyond the hype and into the realm of real world application both in enterprise and society in general.”

“My current focus is two-fold; at Cortex Logic we are now building a series of products and platforms embracing all aspects of Artificial Intelligence to help businesses solve complex business problems using the power of machine learning, deep learning, the Internet of Things (IoT) and Big Data & Analytics.”

“At the Machine Intelligence Institute of Africa we are building a community to leverage AI for social good, education and transformative change in the wider African society. It’s been a passion of mine for many years and there has never been a better time for young engineers, entrepreneurs, business and governments to begin their journey into the 4th Industrial Revolution.”

“Every sector of society and commerce will be impacted by AI and I can not wait to see what the future holds. However, we have some key challenges to solve around ethics and the impact AI will have on society so it’s imperative that we all begin to focus on this debate and how this smart technology era will be leveraged for positive change, growth and benefit for all,” concluded Dr Ludik.


 

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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.