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Paratus, Dololo initiative set to connect entrepreneurs to the world via hub

Paratus, Dololo initiative set to connect entrepreneurs to the world via hub

Paratus Namibia has partnered with Dololo to become the connectivity sponsor of DoBox, a project that aims to connect entrepreneurs to the world.

DoBox is Namibia’s newest business incubator and coworking space for entrepreneurs by entrepreneurs.

Dololo is developing the entrepreneurship ecosystem in Namibia, its mission is to empower future generations by providing spaces and supporting networks that enable entrepreneurs to solve real world problems. It also provides services to forward-looking companies and institutions and connects them to young talent by facilitating Internal Innovation Workshops, events and training.

Co-founder and CEO of Dololo Tim Wucher is excited to have a dynamic company such as Paratus join the project as a connectivity sponsor.

“We welcome their enthusiasm to support Dololo by connecting entrepreneurs at DoBox to the world through fiber-fast access to the Internet,” he said

As a privately-owned entrepreneurial telecoms business, Paratus fully understands the needs of the entrepreneur to access technology in order to grow the economy of Namibia. It has a physical presence in Angola, Botswana, Mozambique, Namibia, South Africa and Zambia and provides connectivity services to more than 20 African countries.

Paratus managing director Andrew Hall said Namibia has its fair share of challenges being a developing country. “Our entrepreneurs are a gateway to future growth of our economy.”

“We recognise the difficulties that face our entrepreneurs but are confident that through our collaboration with Dololo, we can bridge the gap of access to technology and the Internet,” he explained.

According to Barney Harmse, Paratus Group CEO, Paratus was born from the vision of handful of entrepreneurs that decided to make a stand in Africa.

“Needless to say, those entrepreneurs are still employed in the group across the regions and that speaks of our pride and commitment to the dream,” he added.

According to Harmse it is through entrepreneurial mindsets that Paratus is able to deliver products and services across Africa and has helped take the lead of expanding connectivity infrastructure across the African territory.

“Namibia is our home and we are proud of the infrastructure that we have built and will continue to build under economic difficulty in the region,” he stressed.


Caption: Paratus Namibia, part of the Paratus Africa Group, has partnered with Dololo to become the connectivity sponsor of DoBox, a project that aims to connect entrepreneurs to the world.


 

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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.

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.