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Windhoek Country Club resort best-run state-owned company – Minister

Windhoek Country Club resort best-run state-owned company – Minister

As testimony to the enormous turnaround accomplished at the Windhoek Country Club Resort and Casino, it presented its shareholder, the Government of Namibia, with a cash contribution of N$6 million. This once-struggling state-owned enterprise now has more than N$50 million in reserves.

At a ceremony on Monday 02 December, the chairman of the Country Club’s board, Mr Sven Thieme presented the Ministry of Public Enterprise and the Ministry of Environment and Tourism with a rather large facsimile of the notification of a funds transfer of N$6 million for the redemption of preferential shares.

The Minister of Public Enterprises, Hon Leon Jooste commented that the WCCR was extremely well managed and was a world class asset with a world class board and management, and world class staff. “I would like to add that this is probably the best-run public enterprise in Namibia and all credit goes to them for being a quality asset to their shareholder.”

The Deputy Minister of Environment and Tourism, Hon Bernadette Jagger echoed the SOE minister’s sentiments, saying that it was a rarity that a company stepped up their game as [the Country Club] has done. “We appreciate and commend the [the Country Club] and the positive impact they have made. Keep up the good work and continue to work hard.”

Chairman Thieme expressed his pleasure with another year of solid results, singling out the contribution the Country Club has yet again made to the Fiscus. “The Windhoek Country Club Resort has more than N$50 million in cash resources and is thus in a very healthy financial position. We are grateful for the fantastic co-operation we have received from the government since 2004 and firmly believe that the impossible is possible when everyone works together,” he said.


Caption: From the left, Terttu Uuyuni and Hon. Clara Bohitile, both Country Club directors, Hon Leon Jooste, the Minister of Public Enterprises, Sven Thieme, the hotel’s chairman, Hon Bernadette Jagger, the Deputy Minister of Environment and Tourism, and Alec Boois, another director.


 

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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.