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Make buying local products and services a priority, it helps to speed up economic recovery

Make buying local products and services a priority, it helps to speed up economic recovery

The agency that promotes Namibian products and services in the local market, Team Namibia, has launched a special appeal to Namibian consumers to focus on buying from Namibian companies.

Executing its mandate to raise awareness of local products and services, the lobby organisation said “now more than ever, all Namibians must be encouraged to support local businesses.”

Coming out of a prolonged recession, Team Namibia stated that the impact of reduced consumer spending by both businesses and private individuals, has had a marked slow-down effect on the economy. To counter this effect, consumers should make it their top priority to buy only Namibian products where available and in as much as they can afford to.

“This collaborative switch in consumption patterns can notably improve the trade balance and ensure that money spent, remains in the local economy. Furthermore, this can create and protect local jobs, because when local businesses are supported by buying their products and services, it leads to sustainable economic development which reduces poverty in turn,” said the lobby group’s Account Director, Bärbel Kirchner.

“Through shopping, buying, procuring local, we can impact the economy. This is as relevant when we buy groceries and consumer goods, as when we decide where we spend our holidays. How businesses and authorities buy their products and services also has an enormous impact, whether this relates to office supplies, corporate clothing or uniforms, IT services or indeed construction services,” she continued.

On the multiplier effect of local purchases, she said that buying local does more than support local businesses as it also circulates more money in the local economy and it improves the rate at which that happens. It also means that less has to be imported, again contributing to an improved trade balance and more local liquidity.

“Buying local means that profits are spent or invested locally. Thus, money spent locally is re-spent locally, continually meeting local needs,” she said.

Noting that the recession has cost many people their jobs, Team Namibia said this also had a detrimental effect on consumer spending. Focussing on buying local products, accelerates businesses’ return to profitability with the result that they start hiring employees again. This has a positive effect on employment and consequently on consumption.

“During the current harsh economic conditions Team Namibia’s mantra, “together our future is brighter”, reiterates the importance of teamwork among consumers and institutional buyers in lending a hand to the economy, in the spirit of Uukumwe,” concluded Kirchner.


 

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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.