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Alweendo calls for balanced stake in benefits derived from diamonds

Alweendo calls for balanced stake in benefits derived from diamonds

Mines and Energy Minister, Tom Alweendo urged leaders within the diamond industry to pioneer a new dawn for a better and balanced share of the benefits derived from diamonds.

Alweendo, who was speaking at the 2019 Botswana Diamond Conference held in Gaborone on 5 November, said communities and governments must be total partners in this new dawn – including becoming budding marketeers of diamonds, and telling the story to consumers around the world about the good that diamonds do.

“The conventional model where corporations pay for advertisements is no longer sufficient. Our people- employees and communities- may be better marketeers than the conventional model. However, that will also only materialize when they feel and believe that they too have a stake in the benefits being derived,” Alweendo said.

Alweendo stressed that governments can no longer just rely on the rankings and ratings of how investor-friendly they are, but also looking at retain such investment. He added that governments must accelerate technology development in the industry if they are to succeed in managing the challenges presented by issues such as Lab Grown Diamonds, consumer demand for carbon neutral production, as well as increasing consumer demand for greater evidence of the benefits of diamonds to communities.

“The evidence of the benefits that diamonds have brought to our two countries are overwhelming. We can, however, not rest on our laurels to unlock greater value for our people. It is for this reason that I am delighted to be here and look forward to learning and sharing what more we can do collectively,” Alweendo said.


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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.