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Rebranded drydock operator lands its first major contract with Angolan navy

Rebranded drydock operator lands its first major contract with Angolan navy

Barely a few months after completing its restructuring and rebranding, the former Walvis Bay drydock operator, EBH Namibia, now sailing under the banner Namdock, has landed a significant contract with the Angolan navy for repair and refurbishing of a number of vessels in its fleet.

The first two vessels are expected to arrive early in 2020. According to a statement released by Namdock last week, the exact time of arrival has not been finalised.

The Angolan Government was prompted to upgrade its naval fleet following several attacks to marine vessels in the Gulf of Guinea, north of Angola. The fact that oil installations and oil tankers were also involved in some of these incidents, demonstrated Angola’s vulnerability to similar attacks especially to its oil and gas industry in Kabinda.

It was reported by the Angolan news agency, Angop, that upgrading the Angolan navy’s vessels has become a priority. The Chief of the General Staff of the Angolan armed forces was quoted as saying that international terrorism poses a serious threat to the Gulf of Guinea and neighbouring countries such as Angola.

According to Namdock’s Commercial and Operations Manager, Willie Esterhuyse, Namdock will take two Angolan navy vessels into its dry docks in 2020 with a possible extension to this contract to service the navy’s other vessels as well as supply related services and training.

The landmark contract took more than two years to finalise. Negotiations started in 2017 when officers of the Angolan navy inspected Namdock’s drydock facilities in Walvis Bay. Similarly, EBH Namibia send technicians to Luanda to inspect the vessels.

“We are pleased to welcome this new customer to our shipyard” said Esterhuyse adding that they have already done some work for the Angolan government when they repaired their Ministry of Fisheries’ drydock.

In terms of skills and capacity, Esterhuyse said “We are used to working on naval vessels as we have been maintaining those of the Namibian Navy since our company’s inception in 2006.”

The Angolan navy contract comes after an eventful year for Namdock during which there was a steady increase in yard activity and new enquiries. “This has progressively allowed us to overcome the depressed economic cycle that has constrained our industry since 2016,” said the acting Chief Executive, Heritha Nankole Muyoba.

“This Angolan contract is a proud milestone for us in the development of our company and our continuing ability to make a meaningful contribution to our Namibian economy,” she concluded.


 

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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.