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ISACA Windhoek hosts cybersecurity, risk, fraud management conference

ISACA Windhoek hosts cybersecurity, risk, fraud management conference

The local Chapter of the Information Systems Audit and Control Association (ISACA), together with regional partners recently hosted a successful one-day conference on ‘navigating through uncertain times”, in Windhoek.

The topics centred on Internet Security governance, covering an array of topics such as; assurance, security, and governance and how to combat digital fraud and best ways to assess and carry out risk management. Topics that should be high on every organisation’s agenda, whether public, private or profit or non-profit.

The different organisations and their delegates listened to case studies, best practises and thought leadership from various local and international speakers. Apart from ISACA (Information Systems Audit and Control Association), IRMSA (Institute of Risk Management South Africa) members attended, as did members of ACFE (Association of Certified Fraud Examiners).

ISACA is an independent, non-profit, global association which engages in the development, adoption and use of globally accepted, industry-leading knowledge and practices for information systems. It provides centralized source of information and guidance in the growing field of auditing controls for computer systems.

Major topics discussed centred on digital connectivity and how it plays a pivotal role in unlocking innovation and prosperity around the world and the risks that come with it. Risks to cybersecurity present major obstacles to our continued and collective path to progress.

Cybercriminals taking advantage of a borderless playing field and the lack of trust among nation states, corporations and global law enforcement to build their criminal enterprises and launch targeted attacks, with limited risk and retribution. This is a systemic challenge and cyber resilience is needed and should be focused on. Every organization should act as a steward of information they manage on behalf of others. And every organization contributes to the resilience of not just their immediate customers, partners and suppliers but also the overall shared digital environment.

Economic loss due to cybercrime is predicted to reach US$3 trillion by 2020, and 74% of the world’s businesses can expect to be hacked in the coming year. Current efforts to contain cyber-crime, while important, remains largely insufficient as the global impact of cyber-threats continues to grow, this was a hot topic at the Windhoek conference.

As the SADC region and Africa in general embraces technology, it becomes more vulnerable and attractive to cyber-criminals. If we don’t ensure a safe, resilient and internationally compliant series of networks, we risk of exposure and huge potential losses of money, data and fines. Not to mention losing the trust of partners and stakeholders as well as clients.

The event was closed off by an inspiring talk by Buhle Dlamini, Global Speaker, author, future, organisational culture and diversity expert. Dlamini was electrifying as he spoke about organisational readiness for digital disruption and the type of leadership that is required to navigate through the uncertainty that it creates. His talk featured on enabling organisations to make the most of the future world of work, manage across generations and create an effective, inclusive workplace.

Jan Coetzee, chairperson of ISACA Windhoek Chapter and Managing Director of Headway Consulting stated; “Industry bodies such as ISACA, IRMSA and ACFE work together to contribute towards the economy as well as the educational system. The three industry bodies will continue to provide awareness, education and training by sponsoring local educational seminars and workshops; and improving professionalism through accreditation services.”


 

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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.