Select Page

Tourism a major driver of reaching development goals but it needs much more financing and investment

Tourism a major driver of reaching development goals but it needs much more financing and investment

That tourism holds much potential for Africa is widely recognised by international tourism promoters, seeing it as the one economic sector that can propel African communities in their drive to promote the continent’s sustainable development agenda.

Earlier this week at a gathering of the World Tourism Organization in Geneva, Switzerland, tourism’s unlimited future potential came under the spotlight again in a discussion titled “Tourism Financing for the 2030 Agenda.”

The discussion was held during the 2019 Global Review of Aid for Trade at the headquarters of the World Trade Organization (WTO). UNWTO Secretary General Zurab Pololikashvili began the discussions by highlighting the key role that the global tourism sector plays in economic growth and job creation.

Ministers, development partners and financing institutions need to better understand and recognize how tourism can contribute to the 2030 Sustainable Agenda. Tourism is explicitly mentioned as a target in three of the 17 Sustainable Development Goals (8, 12 and 14), though, as speakers at the Geneva session noted, for the sector to really realize its enormous potential, the amount of aid and development financing directed to tourism needs to be increased significantly. Unlocking tourism’s potential for realizing the 2030 Agenda requires a combination of effective and robust policy frameworks, enhanced private sector action, and an innovative approach to partnerships for development cooperation.

“This is an important time for both the tourism and the international development sectors,” said Pololikashvili. “Strengthening and unlocking aid flows for tourism will help the sector be a driver of job creation, as well as of social and economic development and economic diversity.”

“The UN’s World Tourism Organization welcomes the opportunity to join ministers, tourism leaders and our partners for these important talks here in Geneva. Working together we can harness the power of the new aid architecture and ensure that nobody gets left behind as tourism transforms lives around the world,” he concluded.


Aid for Trade Global Review 2019: “Supporting Economic Diversification and Empowerment.”


 

About The Author

SADC Correspondent

SADC correspondents are independent contributors whose work covers regional issues of southern Africa outside the immediate Namibian ambit. Ed.

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.