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Windhoek East constituency supports small entrepreneurs for growth and for employment

Windhoek East constituency supports small entrepreneurs for growth and for employment

By David Adetona.

The Khomas Regional Council’s Windhoek East constituency has once again demonstrated that it remains at the forefront of driving self-employment in its community when owners of income generating projects recently received equipment or material worth N$150,000 as part fulfillment of the government’s promise of assistance to citizens in accordance with job creation strategies in all the constituencies.

The beneficiaries received material or equipment such as an electric generator, a chest freezer, a steel ladder, a welding machine, safety construction helmets, gazebos, tents, a braai cookware set, plastic cooler boxes, chairs with tables and many other items to support poverty alleviation or employment creation in the constituency.

The projects that received assistance include catering, plumbing, tourism, bread bakery, butchery, construction and hospitality businesses that are based on self-employment and at the same time give employment to others.

The beneficiaries all agreed that the provision of material or equipment in support of small upcoming entrepreneurs, women, men and youth, is a contribution in achieving a secured livelihood and empowerment of communities or an effort to find solutions to those individuals who do not quality for loans at financial institutions for small projects or business. All the beneficiaries were grateful and acknowledged the value of the Council and the constituency office’s assistance and support to the growth of income generating projects.

Presenting the items to the beneficiaries, the Windhoek East Councillor, Joyce Namuhuja said that the auspicious occasion of yet another handover of equipment to various owners of income generating projects is the eighth time since the inception of the programme in the constituency.

She pointed out that a large section of the country’s most disadvantaged population is engaged in small scale businesses and the government fully recognises the vital role that small businesses or projects can play in social and economic development to improve the living conditions of people at all levels.

In a similar vein, the Councillor added that the Income Generating Activities grants in the form of material or equipment given to community-based economically viable projects, uplift their existing small business activities with a view to become big, sustainable and competitive Namibian companies.

The Councillor encouraged all the beneficiaries to work hard and be productive to achieve the anticipated goals of job creation and poverty alleviation for the benefit of society.


Caption:(left to right). Lineekela Kaxuxuena from Ebbenlee Investment, Peyavali Uukunde from Peyavali Rental Company, Councillor of the Windhoek East constituency, Hon Joyce Namuhuja, Lea Namoloh from Exquisite Bread and Alex Dawid Strauss from Strauss Braai at a recent ceremony where the Councillor presented the beneficiaries with an assortment of equipment and material as part of the constituency’s Income Generating Activities grants. (Photograph by David Adetona).


 

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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.