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Central Bank Deputy Governor lands Revenue Agency Chief Executive post – but only for six months

Central Bank Deputy Governor lands Revenue Agency Chief Executive post – but only for six months

The Deputy Governor of the Reserve Bank, Ebson Uuangata has been appointed as the Commissioner of the Namibia Revenue Agency (NamRA), the Finance Minister announced on Thursday.

The Finance Minister, Hon Calle Schlettwein, Thursday said this will be an arrangement for the first six months to provide the ministry with a chance to have the Commissioner /Chief Executive together with the board, develop the structure and staff recruitment.

“Thereafter Uanguta will go back to his position at the bank and we will proceed with the recruitment of the Commissioner,” he added.

Asked on the other candidates that were poised to take over the job, Schlettwein said that the potential candidates selection from the interview that was done “did not meet all our requirements and therefore that process has to be redone,” he said.

The Inland Revenue Commissioner Justus Mwafonge, Communication Regulatory Authority of Namibia (CRAN) Chairperson Heinrich Mihe Gaomab II and Tax Leader at PWC Chantell Husselmann where the top three candidates for the NamRA post.

Schlettwein meanwhile said the revenue agency setup process is complicated because the tax collection can not be interrupted.

“We have to have the systems running until the last day and on the same day switch over to NamRa system which will take over as the Receiver of Revenue of Namibia. Government remains committed to bringing NamRa online within the current financial year,” he added.

According to the minister the preparatory activities have been extended because of key dependency activities that have to be completed.

Schlettwein furthermore reiterated that the government remains committed to the establishment of the Namibia Revenue Agency.


 

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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.