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Wernhil Park goes from huge to humongous – thousands of shoppers throng the shops during the first days after opening

Wernhil Park goes from huge to humongous – thousands of shoppers throng the shops during the first days after opening

“Just for interest sake, when we opened the doors to the public on Saturday of last week, a staggering 100,000 people visited [Wernhil Park] on that day which must be the highest foot count of any building in Namibia within a single day to date,” said the Managing Director of Broll Namibia, Marco Wenk at the mall’s presidential inauguration.

Broll Namibia, the property subsidiary of the Ohlthaver & List Group, is the shopping centre’s developer and manager.

To date, Wernhil Park shopping mall has grown through four phases over 29 years, covering more than four hectares of land with over 54,000 square metres of lettable retail space. The first phases are anchored by Ohlthaver& List’s retail subsidiary, Pick n Pay, with competitor Checkers anchoring phase 4 on the southern side.

Other significant brands include Food Lovers Market and Seattle Coffee, Dischem, Hi-Fi Corporation, Mugg & Bean, Foschini and several banks. Phase 4 also offers a full-service medical centre, Khomas Medical Centre. The new wing includes a multi-deck parking lot and a second taxi rank.

Planning for Phase 4 started eight years ago in 2011 not long after completion of Phase 3. Total investment now exceeds N$1 billion.

Dwelling on the record-time construction period, Wenk said Phase 4 required 18,000 cubic metres of concrete, held up by more than 1000 tonnes of reinforcing steel and cabling.

During the almost two years of construction, between 400 and 500 construction workers worked on the site. Once completed, the new shops added an estimated 600 new positions.

Wenk conveyed his gratitude to the project’s financiers, Rand Merchant Bank, the City of Windhoek for its support in this major CBD development, the project managers, SIP Namibia, the architects, Leon Jacobs and Axel Dainat, the quantity surveyors, Swanepoel Botha, the engineers, SCE Consulting, the main contractor, Namibia Construction, all the subcontractors, the Broll leasing team, and all the Broll Namibia employees.

Finally, he acknowledged the guidance and input from Broll Namibia’s parent, the Ohlthaver & List Group, and in particular, the support of the President, HE Dr Hage Geingob who did the honours of officially opening Phase 4. Wenk reminded the President that he also opened the first phase of Wernhil Park 29 years ago but then as Prime Minister.


Caption: The President, HE Dr Hage Geingob (centre) takes a stroll through the new wing of Wernhil Park shopping centre. He is accompanied by the Managing Director of Broll Namibia, Marco Wenk (right), the Chairman of the Ohlthaver & List Group, Sven Thieme (behind Wenk) and his security detail.


 

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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.