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Yambu Life Cycle challenge to become an annual event

1st Place winner in mens 50 km challenge, Heiko Redecker receives his cheque from representatives of Trustco.

1st Place winner in mens 50 km challenge, Heiko Redecker receives his cheque from representatives of Trustco.

Trustco Life Ltd hosted the Yambu Life Cycle MTB Challenge last week Saturday at Iitum-ba,  which is situated just south-east of the Windhoek Country Club Resort. A total amount of N$200 000 in prize money for all the categories, was up for grabs, the largest prize purse to be offered in Namibia for a cycling event. Trustco Life Ltd, through its Yambu Life product’s philosophy of rewarding health, has found a fitting partner in cycling, a sport that promotes physical fitness and a healthy lifestyle. A variety of courses caters for all riders, including a 12km fun ride, a 25km intermediate course, and an endurance testing 50km track.

The courses are 85% jeep-track, designed to test the rider’s technical ability and fitness levels. The race is open to all ages, from beginner level and energetic youngsters, up to advanced level and the not-so-young but young at heart cyclers. The Yambu Life Cycle MTB challenge saw a total of 147 riders tackle the 12 Km, 25 Km and 50 Km tracks on the day. The tracks, comprising very technical sections with steep downhills and 40 degree inclines, were challenging and tested the riders’ skills and endurance.Part of the 50 km track was “The Hill”, a particularly tough and steep climb. In order to refer to it in future Challenges, a competition was launched in which riders who reached the summit of the hill were encouraged to suggest a name for it. “The Hill” will henceforth be known as “ Achilles Hill,” the winning name suggested by Andra Van Staden who walked away with a N$5000 cash prize for her creativity. Annette Brand, Head of Trustco Insurance and Life Ltd. said “based on the success of this year’s inaugural event, the Yambu Life Cycle challenge is set to become a yearly event and riders are encouraged to start preparing now.”Apart from the prize money awarded to winners of the various categories, a total amount of N$24000.00 was paid to13 attendees in a Lucky Draw competition.

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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.