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MCA marks 4th anniversary

Millenium Challenge Account Namibia staff had a get together lunch to celebrate the completion of their fourth year.

Millenium Challenge Account Namibia staff had a get together lunch to celebrate the completion of their fourth year.

Millennium Challenge Account Namibia (MCA N) this week celebrate the completion of year four of its five year Compact programme.
 This MCA N development programme in the fields of education, agriculture and tourism ends on 16 September 2014. The investment projects to the combined value of approximately N$ 3 billion (US$ 304.5 million) are funded by the United States Government through the Millennium Challenge Corporation (MCC).
At a brief get together during lunch time at the organisation’s headquarters in Windhoek, MCA N’s  CEO Penny Akwenye thanked all staff members and implementing partners such as the Ministries of Education, Environment & Tourism, Lands & Resettlement, Agriculture, Water & Forestry together with the two state owned enterprises Namibia Training Authority (NTA) and Namibia Tourism Board (NTB) for their continued cooperation and dedication to the cause.
MCC Country Director Steve Dobrilovic lauded the MCA N team for its extraordinary performance: “During all my years in the field, I have never experienced such a dedicated and professional MCA team, like here in Namibia. All the best for the final year!”
Since the start of Compact implementation, significant progress was made at renovating and upgrading 47 selected schools in the field of education. Regional Study and Resource Centres (RSRCs) in Oshakati, Helao Nafidi and Gobabis are completed and will soon be handed over to the Namibian Government.
In Agriculture, 1.6 million ear tags in support of the Ministry of Agriculture, Water & Forestry’s Animal Identification and Traceability Information System (NamLITS) were procured for cattle in the Northern Communal Areas. Community based Rangeland and Livestock Management was widely introduced and five newly constructed State Veterinary Offices (SVOs) in Outapi, Omuthiya, Eenhana, Epukiro and Okakarara are near complete.
MCA N is also supporting the Ministry of Environment and Tourism in translocating wildlife to selected communal conservancies to restore and enhance biodiversity in support of sustainable eco tourism that benefits conservancy members. Infrastructure at Etosha National Park is being built and upgraded to the combined value of N$ 400 million, whereas NTB can enjoy funding for its efforts to market Namibia as a tourist destination abroad.
The MCA N Compact is a grant funding agreement between the Governments of the United States of America and Namibia. All projects are financed by the American taxpayer with the aim to reduce poverty through economic growth.

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


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.