Select Page

Special travel incentives for Chinese credit card holders to include Namibia in their itinerary

Special travel incentives for Chinese credit card holders to include Namibia in their itinerary

Capitalising on the 200 million Chinese tourists who visit the rest of the world every year, needs some local support for Namibia to attract its fair share of this almost limitless market.

To promote Chinese tourism to Namibia, Standard Bank, in partnership with its majority shareholder, the Industrial Commercial Bank of China (ICBC), this week launched the I Go Namibia rewards scheme for the bank’s more than 830 million card holders in China.

I Go Namibia is a reciprocal initiative, matched by Standard Bank’s I Go China campaign enabling Standard Bank card holders to enjoy the wonderful tourist and shopping experiences in China.

Speaking at the launch in Windhoek, Mr Gang Sun, Deputy Executive of ICBC’s Africa Representative office, said the two banks would like “IGO” to be a platform that multi-parties leverage to contribute to Namibian Chinese exchange. “Namibian and Chinese people are both very hospitable and by launching “I Go Namibia” we want to strengthen the established friendship between China and Namibia. We welcome more partners to join I Go Namibia,” he said.

I Go Namibia intends to leverage the growing appetite of affluent Chinese travellers to visit Namibia by offering various discounts and special offers from local vendors in the travel, hospitality and lifestyle segments.

“To qualify for these benefits at Standard Bank merchants, ICBC cardholders will be making payments with their ICBC MasterCard, VISA and or Union Pay International (UPI) cards. 80% of ICBC bank cards are UPI cards, which are welcomed as payment tender at any Standard Bank merchant,” Standard Bank Namibia stated.

Standard Bank’s Head of Card in personal and business banking, Hendrik du Plessis, said “The partnership between Standard Bank and the Industrial Commercial Bank of China has contributed to move various African countries forward.”

Head of Marketing, Communications and CSI, Magreth Mengo said “ I Go Namibia will increase the partnership and economic cooperation between China and Namibia thus improve the country, people and culture relations.”

Caption: Chief Executive of Standard Bank Namibia, Vetumbuavi Mungunda (left) welcoming the Deputy Executive of ICBC’s Africa Representative Office in South Africa, Mr Gang Sun, at the launch of the I Go Namibia travel incentive earlier this week.


About The Author

The Staff Reporter

The staff reporter is the most senior in-house Economist reporter. This designation is frequently used by the editor for articles submitted by third parties, especially businesses, but which had to be rewritten completely. - Ed.

Following reverse listing, public can now acquire shareholding in Paratus Namibia


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.