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Geingob affirms Namibia’s readiness to deepen existing trade and investments with the UK

Geingob affirms Namibia’s readiness to deepen existing trade and investments with the UK

The United Kingdom intends to ‘turbo-charge’ bilateral cooperation and trade with Namibia post-Brexit according to a British official this week.

UK Joint Minister of State at the Foreign Commonwealth Office and Department for International Development, Andrew Stephenson assured the President, HE Hage Geingob during his first visit at the State House on Wednesday.

According to Stephenson, Brexit will not cause disruptions but will provide an opportunity to the UK to develop an independent trade policy and trade program

In a statement issued by the presidency, Geingob affirmed Namibia’s readiness to deepen existing trade and investment with the UK, highlighting the country’s strategic location in the region and vast investment opportunities in value addition, agriculture and the wildlife and tourism economies.

Geingob added that he has since directed Ministers to respond more expeditiously to investment proposals.

Meanwhile, the meeting also discussed the impacts of Climate Change, of which President Geingob stated, “It is real, we feel it. Weather patterns have changed, resulting in the protracted drought Namibia is currently experiencing. It has had devastating effects across the country.”

Furthermore, the two parties emphasized the importance of economic diplomacy to unlock employment opportunities for young people, towards a sustainable future and mutual prosperity.

The UK will host in November 2020, for the first time, the COP25 Summit, to redouble global commitment towards Climate Action.

British High Commissioner to Namibia, HE Kate Airey also announced at the meeting, an 8 million Pound commitment by the British Government, to finance Climate Change mitigation projects in the region.

Caption: UK Joint Minister of State at the Foreign Commonwealth Office and Department for International Development, Andrew Stephenson and the President, HE Hage Geingob during his first visit at the State House on Wednesday (Photo by the Presidency).


 

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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.