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Nedbank to dispose two of its premium properties, as new head office develops

Nedbank to dispose two of its premium properties, as new head office develops

Nedbank Namibia has announced that, following the start of construction of their new head office on Fidel Castro Street in Windhoek, two of its premium properties have come on the market.

At the groundbreaking ceremony in November 2018 Nedbank Namibia’s Managing Director, Lionel Matthews, said, “We are building a great place for Nedbankers to work, and a great place for our clients to bank and invest. More importantly, though, we are investing in the economy of our country and the prosperity of our people.”

This speaks to Nedbank’s investment of N$500 million in the economy through the development of the five-star green building.

With construction well under way, Nedbank has placed the architecturally impressive Business Centre on Gutenberg Street on the market. The freestanding block with its art deco facade, situated in the western precinct of the historic Ausspannplatz, is located close to Maerua Mall, residential areas and links to the major roadways.

The other property for sale is Nedbank’s current head office on Dr Frans Indongo Street, in the bustling financial hub of Windhoek. With more than 6000 m2 of leasable space and prime positioning, the building is ideally located as a company head office.

With such prime real estate coming on the market, investors have a unique opportunity to add desirable properties to their portfolios. This will also allow businesses to expand their footprint to the centre of the capital and meet the needs of the growing Namibian economy.

Nedbank appointed Quoin Online, innovators in the niche market of online property transacting, to manage the disposals.

“The sale of these properties presents investors and developers with a rare opportunity to acquire institutionally held properties in well-located areas. They are sizeable properties, so investors can undertake meaningful developments, whether for refurbishment or redevelopment,” Miller said.

Through the Quoin Online platform all investors are given equal access to the available information.

“Both of these properties are in good areas and well located. Because these properties have housed Nedbank, they have all been maintained to the bank’s standards. Investors will be buying well-maintained properties,”added Miller.


 

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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.