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Heads of State and Government of the African, Caribbean and Pacific Group of States converge in Nairobi

Heads of State and Government of the African, Caribbean and Pacific Group of States converge in Nairobi

Namibia joined other delegates at the 9th Summit of Heads of State and Government of the African, Caribbean and Pacific Group of States (ACP) which kicked off in Nairobi, Kenya, on 6 December.

The Summit which concludes on 10 December is running under the theme; “A Transformed ACP: Committed to Multilateralism.”

The ACP is one of the largest groupings of countries of the South. It was created by the Georgetown Agreement in 1975 (amended in 2003) and its 79 members comprise 48 Sub-Saharan States, as well as 15 Pacific and 16 Caribbean states.

The ACP’s relations with the European Union (EU) have been governed by the Cotonou Partnership Agreement (CPA) which is due to expire in 2020. The Agreement is built on three pillars of (1) trade and economic cooperation, (2) development assistance (3) and political dialogue that focusses on issues such as human rights and democratic governance.

The ACP Group of States is currently undertaking negotiations with the EU on a new ACP-EU Partnership Agreement, which is envisaged to conclude in the first quarter of 2020.

It is expected that the 9th ACP Summit will note and endorse the progress thus far of the post-Cotonou negotiations for a new ACP-EU Partnership Agreement.

The Summit will also consider the adoption of the revised Georgetown Agreement. The Nairobi Declaration will be adopted by Heads of State and Government and will provide strategic political direction on ACP matters until the next Summit.


 

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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.