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Etosha road grading done at night when tourists are in the rest camps

Etosha road grading done at night when tourists are in the rest camps

A Namibian bank is so concerned about the business it generates from tourism that it made a small contribution to the maintenance cost of roads in Etosha National Park, a function that is normally done by the Ministry of Environment and Tourism.

FNB announced this week its Tourism Division donated N$10,000 to what they called, the Etosha road project. The money is intended to help cover the cost of grading, ripping, and where needed, filling roads in this enormous conservation area for the benefit of the hundreds of tourists criss-crossing the park every day.

The bank went a step further to obtain the goodwill of the people responsible for road maintenance. A special dinner was arranged for the road graders as motivation to try and cover as much road as possible during night when there is not tourist traffic.

“FNB is proud to partner with Chris Theron, the Ministry of Environment and Tourism, and all other sponsors on this noble project. We understand the prevailing trends in the tourism, hospitality and the travel sector, and through this small donation we want to help our clients and all Namibians, experience the very best our country has to offer” said René Botes, FNB Head of Tourism and Merchant Sales.


Caption: Chris Theron (left), René Botes of FNB (centre) and Jafet Shigwedha of the Ministry of Enviroment and Tourism, together celebrate FNB’s concern over the workload to keep Etosha’s roads in a decent condition.


 

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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.