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Davos side-discussions underline the role of finance in achieving development goals

Davos side-discussions underline the role of finance in achieving development goals

Davos – The fundamental role the financial sector plays in helping secure the objectives set out in the UN Sustainable Development Goals (SDGs) was made clear at the opening of the SDG tent this week in Davos during the World Economic Forum.

For the first time ever, the top five risks reported in the World Economic Forum Global Risks Report, all relate to the environment. There is consensus that the globe has reached a pivotal moment as values and value come together and align for the first time. It’s manifestly clear when one considers that physical risks such as forest fires and flooding are impacting the risk and value of portfolios. Stakeholders and clients are also demanding that the industry evolves and meets today’s challenges. Organizational performance will be compromised if environmental considerations are ignored, panelists agreed.

The dialogue around finance, sustainable finance and climate change has significantly developed over the past decade from one that largely focused on theory to one that is ready help galvanize huge sums.

Capitalism has failed because of its focus on short-term profitability and performance. Companies need to be measured not just on their finances, but on how they use their resources to serve their community. If you are a leader, you need to ask yourself: How are your stakeholders, not just your shareholders, being served by what you are doing?,” said Andre Hoffmann, President of InTent and Vice Chairman of Roche Holding Ltd, in the opening panel of the SDG tent.

The UN estimates that the gap in financing to achieve the Sustainable Development Goals amounts to US$2.5 trillion per year in developing countries alone. If world leaders are serious about reaching the SDGs, the overall economic and financial system needs to refocus in a very short time period, with little time for incremental change.

The private finance sector has an essential role to play in closing this gap, thereby contributing to the achievement of the SDGs. At the same time, both private clients and institutional investors are increasingly seeking sustainable investment solutions for. As a consequence, the market share of sustainable investments has been growing in key markets across the globe.

For the second year, the SDG Tent at Davos is an impartial and open space where ideas, thought leadership and unhindered dialogue can flourish and advance the global debate around the role of business and its capacity to deliver sustainable and inclusive development.


 

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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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.