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Fuel prices to remain unchanged this month

Fuel prices to remain unchanged this month

The Ministry of Mines and Energy has announced that fuel pump prices will remain unchanged, with 95 Octane unleaded petrol staying put at N$13.05 per litre and Diesel 50 ppm at N$ 13.63 per litre.

Energy Minister Tom Alweendo said that the National Energy Fund, which absorbs under-recoveries on behalf of consumers from time to time, is in a stable financial position and will thus absorb the under-recoveries recorded during September.

“The Ministry will thus keep fuel pump prices for the month of October unchanged,” Alweendo said.

Alweendo further said that the highlight of September in the global oil market was the attack on Saudi Arabian oil facilities, adding that initial fears that oil prices will drastically rise were quelled when the state oil producer, Saudi Aramco, announced that the facilities will be restored back to full capacity as soon as possible.

He added that the market volatilities contributed to measured increases in oil prices, with refined oil trading at an average of US$72 and US$77 per barrel of petrol and diesel, respectively, in September, in comparison to a final an average of US$69 and US$74 per barrel of petrol and diesel in August.

Alweendo stated that all these factors resulted in moderate under-recoveries recorded on fuel pump prices. He further noted that the 2017 Petroleum Activities Return report indicates that oil companies are failing to generate sufficient returns on their investments in the petroleum sector.

“Thus, an adjustment in their margins to a level that would encourage sustainability and further investment is required. The ministry has therefore decided to increase the industry margin by 3 c/l from 93 c/l to 96 c/l on all the prices regulated fuel products. The effective date for this adjustment is 2 October 2019,” Alweendo said.


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.