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Bank Windhoek internationally recognized as the country’s top bank

Bank Windhoek internationally recognized as the country’s top bank

Top officials from Bank Windhoek this week travelled to London for the 2019 Bank of the Year Awards, where they scooped the title of Namibia’s Best Bank for 2019.

UK-based banking and financial intelligence publication annually judge the world’s leading financial institutions on their ability to deliver returns, gain strategic advantage and serve their markets.

According to John Everington, the Banker’s Middle East and Africa Editor, Bank Windhoek was fit for the title because they sustained a strong financial performance, despite the depressing economic situation Namibia finds itself in.

“The judges were impressed not only by the bank’s strong financial performance, but also by innovative initiatives such as its landmark Green Bond offering and its Woman in Business product range,” Everington said.

Bank Windhoek’s Managing Director, Baronice Hans said their success is the result of the dedication, resilience, teamwork and the tenacity of the Bank Windhoek and Capricorn Group teams.

“We are proud to bring home this accolade. It is confirmation of our commitment to our staff, our customers and being business partners for growth for all our stakeholders. As a truly 100% Namibian bank, we will continue to journey together with all our stakeholders to impact positively in our country and live as Connectors of Positive Change,” Hans said.

Bank Windhoek’s Chief Financial Officer, James Chapman who also attended the Awards, said despite a number of consecutive quarters of negative GDP growth and low levels of inflation in the country, they managed to normalise profit after tax grew by 10.6% year-on-year.

Chapman further said the introduction of and investment in digital and innovative customer solutions has resulted in lower cost to serve delivery channels and more efficient back office cost structures.

“This is much needed during a period of lower private credit extension, economic stagnation, non-traditional competition and digital disruption,” Chapman said.


Caption: Bank Windhoek’s Managing Director Baronice Hans and Chief Financial Officer, James Chapman, flanked by The Banker Magazine’s Brian Caplen and Michael Buerk in London on 28 November.


 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

Following reverse listing, public can now acquire shareholding in Paratus Namibia

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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.