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Highest ranking US official on energy visits Southern Africa

Highest ranking US official on energy visits Southern Africa

Assistant Secretary of State for the Bureau of Energy Resources (ENR) Francis Fannon, recently engaged with the government to strengthen government-to-government relationships on mines and energy during his Sub-Saharan Africa visit from 2 to 9 November, which covered South Africa, Namibia, and Botswana..

The US Embassy in Windhoek in a statement said the visit also included meetings with the Deputy Prime Minister and Minister of International Relations and Cooperation, Netumbo Nandi-Ndaitwah, and with representatives from the Chamber of Mines, Nampower, the Namibian Petroleum Corporation of Namibia (Namcor), and mining companies.

This was Fannon’s first trip to the region as the Department of State’s highest-ranking energy diplomat, the Embassy added.

According to the Embassy the trips served as a renewal of sustained US partnerships with key African nations on energy security as well as a groundbreaking trip to advance new and potential partnerships forged at the United Nations General Assembly (UNGA) this past September in New York where Fannon launched the Energy Resources Governance Initiative (ERGI) alongside of Secretary Michael R. Pompeo.

ERGI is an international initiative led by the US, to develop best practices for responsible mineral development underpinning clean energy technology.


Caption; From the left is Assistant Secretary of State for the Bureau of Energy Resources (ENR), Francis R. Fannon , Deputy Prime Minister and Minister of International Relations and Cooperation, Netumbo Nandi-Ndaitwah, and U.S. Ambassador to Namibia, Lisa Johnson.


 

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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.