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Research firm ranks Bank Windhoek the best bank

Research firm ranks Bank Windhoek the best bank

Bank Windhoek was ranked the best Bank in Namibia according to the recent PSG Banking Review Report for 2019 for the first time.

The PSG Banking Review Report provides a detailed time series and financial ratio analysis between Namibia and listed South African, Botswana, and Zambian Banks.

According to the Report, Bank Windhoek has been rated Best Bank in Namibia for the very first time since the inception of the PSG Bank Review following its performance in the cost efficiency and credit risk categories with low credit losses, low operating cost growth rates and good asset growth as compared to opex over five years. The PSG Review on the banking sector started in 2013 and, in its 6th year, has noticed the effects of weak economic growth and severe drought that has impacted the industry.

Bank Windhoek’s Acting Managing Director, Claire Hobbs, said, “Our success is the result of the dedication and resilience of our staff members. We have a unique and proud heritage based on the entrepreneurial foresight and pioneering spirit of our founders embedded in our culture. In as much as we are building a strong and high-performance driven business, we focus on being a responsible corporate citizen by giving back to the communities in which we operate. We also and ensure that we embed environmental sustainability into the core of how we approach business.”

Bank Windhoek is proud to be the flagship brand of Capricorn Investment Group Limited (Capricorn Group), a financial services group listed on the Namibia Stock Exchange, and was recently named Bank of the Year by the leading Financial Times publication.


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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.