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Best bank for five consecutive years

Ian Leyenaar, CEO of FNB

Ian Leyenaar, CEO of FNB

FNB Namibia was presented with the Bracken Best Bank in Namibia award by The Banker Magazine. The awards were held at the Inter Continental Hotel, Park Lane, in London.
This is the fifth consecutive year that FNB has walked away with this prestigious accolade. The programme acknowledges and promotes industry wide excellence in the global banking community and international judges select only one winning bank for each country which is what makes The Banker “Country Bank of Year Award” such a  sought after award.

The Banker Magazine is a monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London. The magazine was first published in January 1926 through founding Editor, Brendan Bracken of the Financial News, who went on to become the Chairman of the Financial Times from 1945-1958. The best bank awards are named in honour of Mr. Brendan Bracken.
The Banker Magazine reports:“Namibia’s four established lenders form what is one of the most sophisticated banking systems in Africa. And they are highly profitable. But even among its peers, First National Bank of Namibia (FNB) stands out.” Ian Leyenaar, CEO of FNB was ecstatic with the achievement and said: “While other Namibian banks have won this award in the past, this is now the fifth year in a row that this great honour has been bestowed on FNB Namibia and this means that we are consistently and constantly delivering on our helpfulness promises to staff, customers and all our stakeholders. To us this five year success means that we have been the most successful in delivering on the important. In future, we will continue to build and enhance all our business plans to become even bigger and better for all our stakeholders on our journey of being the local world class financial services provider of choice in Namibia.” Leyenaar thanked the staff, management, board and most importantly the customers for their continued loyal dedication and support.

About The Author

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.