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UK keen to continue trade with Namibia, SACU after Brexit

UK keen to continue trade with Namibia, SACU after Brexit

Namibia together with other countries from the Southern African Customs Union and Mozambique (SACU+M)), are set to continue business trading in the UK after Brexit, following the initialling of an Economic Partnership Agreement this week.

The Department for International Development (DFID) in a statement on their website said this marks the end of formal trade discussions and the UK-SACU+M Economic Partnership Agreement will be subject to final checks before it is formally signed.

“This trade agreement, once it is signed and takes effect, will allow businesses to keep trading after Brexit without any additional barriers,” International Trade Secretary, Liz Truss said in the statement.

“As well as benefiting British businesses, this will also support developing countries in reducing poverty through trade. They will be able to grow their economies, create jobs and increase incomes for their citizens,” she added.

According to the statement the agreement allows businesses to continue to trade on preferential terms with South Africa, Botswana, Lesotho, Namibia, Eswatini and Mozambique. It also supports the economic development of these Commonwealth partners laying the foundations for new trade and investment in the future.

This will help to strengthen further the trading relationship between the UK and SACU+M nations, which was worth £9.7 billion last year, the statement added.

Meanwhile the statement highlighted that the SACU+M nations were an important market for UK exports of machinery and mechanical appliances worth £409 million in 2018, motor vehicles worth £335 million, and beverages including whisky worth £136 million.

According to the department, consumers and businesses in the UK will continue to benefit from more choice and lower prices on goods imported from SACU+M countries.

Major imports to the UK from these countries last year included edible fruit and nuts (£547 million) and motor vehicles (£409 million), the department noted.

Trade continuity agreements signed cover countries accounting for £89 billion of the UK’s trade.

When the SACU+M agreement is signed and takes effect, this will go up to £99 billion, the statement added.

“This is a major milestone as the UK prepares to become an independent trading nation once again, and we are helping businesses get Ready to Trade with the most exciting markets around the world,” Truss added.


 

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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.