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FNB Namibia takes CashPlus option to Tsumkwe

FNB Namibia takes CashPlus option to Tsumkwe

FNB recently activated the CashPlus merchant services at the Tsumkwe General dealer, offering residents of the surrounding area access to cash withdrawals, e-wallet withdrawals and FNB account deposits via their cellphone.

The Cash Plus services, officially launched in Namibia on 30 May 2019 are part of the banks drive to roll-out convenient and cost effective banking solution making banking accessible to all. Since its introduction, the CashPlus services have primarily been earmarked for areas with limited access to conventional banking. Included in the list of recently CashPlus enabled communities are areas such as Divundu, Oshivelo, Khorixas, Onankali, Onayena, Ondobe, and Omutsegwonime and the bank is continuously looking for additional merchants to add to this list.

According to Jerry Elago, FNBs Head of Customer Migration, in the past, clients in the Tsumkwe area, had to travel almost 600km to and from the nearest FNB branch and ATM in Grootfontein.

“Inclusion of all Namibians within the banking sector through affordable, accessible and convenient banking solutions remains one of our priority focus areas. We are extremely excited to introduce the residents of Tsumkwe and the surrounding areas to the convenience of digital services banking,” said Elago.

The CashPlus service also offers significant benefits to the merchant, amongst them, attracting more feet to their business and allowing for more efficient cash management and related costs.


About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

Following reverse listing, public can now acquire shareholding in Paratus Namibia


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.