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Okakarara Vocational Training Centre gets boost from FirstRand Namibia

Okakarara Vocational Training Centre gets boost from FirstRand Namibia

The FirstRand Namibia Foundation recently handed over equipment valued at N$92,000 to the Okakarara Vocational Training Centre.

“Vocational training is truly the need of the hour, especially in a country like Namibia where our students need skills to become self-reliant. I am delighted to officially hand over an embroidery machine, two t-shirt head press machines, a vinyl cutter machine, three straight stitch sewing machines, and two overlock sewing machines to the value of N$92,000,” said Seth Maharero, Branch Manager of FNB Okakarara.

According to Sackeus T Pohamba, VTC Head: Trainee Support, Namibia needs robust interventions from all sectors of the economy to bridge the skills gap, promote the social welfare of the general populace and eradication of poverty through self-employment.

“This donation by FNB will enable OVTC to become even more of a community-oriented institution by being responsive to the community’s demand of quality and effective services,” he said

The Okakarara Vocational Training Centre officially opened its doors in 1997, and is the oldest centre under the NTA. The centre conducts its operations under the realm of the Vocational Education and Training (VET) Act, No. 1 of 2008, which makes provision for the management and control of all state-owned vocational training centres to be devolved upon the Namibia Training Authority, until such time that these centres, in the opinion of the Board of Directors of the NTA, are transformed into self-reliant vocational education and training providers.


Caption: (F.l.t.r.) Mr. Sackeus T Pohamba – VTC Head: Trainee Support, Mr. Seth Maharero – Branch Manager: FNB Okakarara, Virinao Kambatuka – VTC, Mr. Penson Mootu: VTC Centre Manager, Ms. Gloria Jamela -VTC, Absolom Iipinge – VTC Finance Manager and Elizabeth Nhinda VTC.


 

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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.