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Africa Working Group of the European Union Council to visit next week

Africa Working Group of the European Union Council to visit next week

The delegation of the European Union to Namibia recently announced that the Africa Working Group of the European Union Council (COAFR) will be visiting the country from 29 January until 1 February.

The group is composed of one representative of each EU Member State, the Commission and the Secretariat of the Council of the European Union. Ms Marie Lapierre from the European External Action Service is the COAFR Chair.

COAFR is responsible for the management of EU external policy towards sub-Saharan Africa, the African Union and other sub-regional organizations.

The visit aims at improving the group’s knowledge and understanding of Africa, and, this year, more specifically of Namibia.

This year’s working visit will be the 7th visit of COAFR on the African continent and the 2nd one in Southern Africa.

EU-Africa relations are long-standing and currently focus on the comprehensive EU-Africa Strategy and preparations for the upcoming EU-AU Summit slated for 2020.

During this visit COAFR wants to learn more about the economy, the effects of climate change on the country and how best to collaborate with Namibia – focussing on inclusive growth and on Green Deals amongst others.

The Working Group’s programme includes a meeting with EU Heads of Mission, official meetings with the Deputy Prime Minister and Minister of International Relations and Cooperation, Hon. Netumbo Nandi-Ndaitwah, Hon. Professor Peter Katjavivi, Speaker of the National Assembly as well as the Minister of Finance, Hon. Calle Schlettwein.

Furthermore, the City of Windhoek in collaboration with the EU Delegation in Namibia prepared a programme that includes site visits to Rocky Crest Early Childhood Development Centre, Bokamoso Entrepreneurial Centre, the Goreangab Water Reclamation Plant and the informal settlement area. The working group will similarly engage with private sector representatives, civil society organisations and the media.


 

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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.