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Development of Walvis Bay Waterfront and Marina well on track

Development of Walvis Bay Waterfront and Marina well on track

The development of a Waterfront & Marina, identified by Namport to better combine sea port activities with recreational and tourism activities, is well on track with the actual Marina, which will supplement the Waterfront, expected to be completed by 2020.

Namport, as the land owner, facilitates the development of a waterfront at the present waterfront area, which on completion could become the main citizen and tourist attractions in Walvis Bay.

In 2014/15 Namport appointed Royal Haskoning DVH as main consultant, with Macintosh &
Lautenbach Architects, Jordaan Oosthuysen Nagolo Quantity Surveyors, DENCI Consulting Engineers (DCE) and COMPRO INC Consulting engineers in support, to conduct a feasibility study on the proposed waterfront and marina development. The study mainly focused on gathering all relevant information in order to advise Namport on the environmental, social, technical, financial and economic feasibility of a waterfront marina development in the area currently known as the Walvis Bay waterfront.

The specific land use at the proposed waterfront development include: hotels, spa, gym, conference and exhibition centre, public amphitheatre, maritime museum, exclusive restaurant, smaller restaurants, public walkways, public park, public esplanade, public beach, private beach, parking (private and public), luxury residential blocks containing flats and penthouses, commercial and retail blocks, roads (private and public); informal markets, arts and crafts stalls, kiosks, small vendors, take-aways, tourism centre, taxi rank and bus stop; small boat marina for yachts and pleasure craft, slipway for ski boats, tour operator base, restaurant boats base, small boat repair yard, club houses, fresh fish market, braai areas and small boat lockers.

“The project budget depends on the level of investment which the private developer intends to make it. It is envisaged that the project be developed in phases over a number of years, depending on the market demand. The total project cost could range from N$300 million to N$1 billion or more,” said Elzevir Gelderbloem, Executive: Port Authority, Port Engineer and Project Manager of the new Container Terminal.

Namport’s intention is to issue an Expression of Interest for private developers, within 2019, and to appoint a successful developer in 2020, while the developer will seek his/her own funding, etc.


Caption: Artistic depiction of the Waterfront development.


 

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

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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.