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Start-up incubation and innovation centre to open its doors to the public by June 2020

Start-up incubation and innovation centre to open its doors to the public by June 2020

The construction of the Start-up Incubation and Innovation Centre was launched officially with a ground-breaking ceremony on the premises of the Bokamoso Entrepreneurial Centre in Katutura last week

The Start-up Incubation and Innovation Centre is a joint Namibian-German technical cooperation project for sustainable economic development, implemented by the Ministry of Industrialisation, Trade and SME Development and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Government.

The land on which the Start-up Centre will be built has been availed by the City of Windhoek by Council Resolution.

The Start-up Centre will incubate Start-ups and serve as a “one-stop-shop” for all needs a new business faces in its ideation, establishment and growth phases, in addition, mobile outreach units will serve Start-ups in three regions in Namibia.

The Start-up Centre will house a co-working space, where Start-ups can rent affordable office space at flexible conditions. It will nurture an inclusive community of entrepreneurs, that will support and learn from each other. In addition, a so-called maker-space will offer opportunities to Start-ups to build, experiment and prototype with both traditional and new technologies.

“In the current troubling economic times that we find ourselves in, I do not need to highlight to you the importance of the private sector, and the critical role Start-ups and Entrepreneurs will play in overcoming the current stretch of low growth and unemployment in Namibia. We all know, we cannot do it without the private sector,” said Dr. Becky Ndjoze-Ojo, Deputy Minister of Higher Education, Innovation and Technology.

According to Ndjoze-Ojo, over the duration of the project of almost four years, the Centre is expected to support the founding of a minimum of 150 new companies and assist a further 500 Start-ups through various support programmes.

“This is an ambitious goal, but I am convinced that if we all join hands and deliver on our pledge to choose the hard path with commitment and motivation, we will succeed,” she added.

Meanwhile, Nina Maritz will be the lead architect on the project, and with her sound expertise and long experience in sustainable architecture, the Start-up Centre will live and breathe innovation with eco-friendly and recycled building materials, self-sufficient power systems and water-saving measures.

The centre will open its doors to the public in June 2020.


 

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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.