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Mining chamber to celebrate five decades of carrying the sector’s interests

Mining chamber to celebrate five decades of carrying the sector’s interests

In about a month’s time, the Chamber of Mines of Namibia will celebrate its half-century, coinciding with the 8th Mining and Expo conference in Windhoek.

The chamber announced this week that the conference is scheduled for 08 and 09 May 2019 at the Windhoek show grounds. The chamber’s annual general meeting is scheduled a day earlier, on 07 May.

The chamber’s Chief Executive, Veston Malango, said “From its modest beginnings on 9 May 1969, the chamber has endeavoured to serve the mining industry with excellence. Started as the Association of Mining Companies in South West Africa, the chamber and its members have made an immense contribution to the Namibian economy over the past five decades. The industry fully supported the young republic after Independence in 1990 and remains dedicated to promoting Namibia as a prime mining destination in Africa.”

Commenting on the relationship with the government, Malango said “We have always striven to reconcile the interests of mines, workers and the economy at large through an open dialogue with our Namibian leaders. This has earned the chamber recognition in Africa. It is often asked for advice by its counterparts from other African countries when tensions mount between governments and mining companies.”

Its sound reputation as an honest broker between mining interest groups, has contributed in no small measure to the chamber’s standing and success. “We have demonstrated that we are not just fair weather friends. The industry continues to contribute to Namibia’s socio-economic growth even in challenging times while the Chamber of Mines plays an active role in shaping a healthy regulatory and policy environment, and through its committees, serves as a strong peer review mechanism on issues of health and safety, environment, human resources and sustainability. This testifies to the strong leadership in both the industry and the government and creates confidence that we can tackle complex issues that will culminate in win-win solutions for the Namibian nation, the government and the sector,” he said.

On the sector’s recent performance, Malango pointed out that according to the data in the preliminary National Accounts, mining recorded a 22% growth, making it the best-performing sector overall in the economy. These gains were largely based on production increases in diamonds and uranium.


 

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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.

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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).

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