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High-level policy dialogue on the blue economy held in Windhoek

High-level policy dialogue on the blue economy held in Windhoek

The blue economy can make a difference in Africa’s economic transformation and development if well and sustainably tapped, an official said this week in Windhoek.

“The blue economy can be a site of economic production, which through its value chain process, can link small, medium and big production firms,” said the Economic Commission for Africa (ECA) Director for Southern Africa (SRO SA), Said Adejumobi

Adejumobi said this when he addressed delegates at a high-level policy dialogue on the “The Blue Economy, Climate Change and Environmental Sustainability” held in Windhoek.

The two-day policy dialogue aimed for stakeholders to share ideas and opportunities, on the potential threats and dangers to the blue economy sector from climate change and environmental challenges.

“If the blue economy is to serve as a viable mechanism for powering our industrialization process, the threats to the realization of such goal need to be urgently addressed,” he added.

According to Adejumobi the blue economy is Africa’s ‘hidden treasure’, which if well and sustainably tapped, can make a difference.

“In realization of the immense benefits of the blue economy, sustainable development goal 14 commits member states to conserve and sustainably use the oceans, seas and maritime resources for purposes of development,” he added.

Meanwhile United Nations Development Programme (UNDP) resident representative to Namibia, Alka Bhatia said that the desired outcome of a blue economy is to achieve improved human well-being and social equity, while significantly reducing environmental risks and ecological shortages.

According to Bhatia Namibia’s fishing industry is the third largest income earner and contributes about 15 percent of total exports.

“About 16,800 people were directly employed in the fisheries sector as per estimates in 2017,” she added.

Bhatia is of the view that the blue economy concept moves nations away from the business as usual development model where the oceans are for free resource extraction and waste dumping.


 

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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.