Select Page

DBN enthusiastic about business growth

Economic expert, Dr Michael Humavindu, manager of research at the Development Bank of Namibia (DBN) said that Namibia can expect a boost in economic growth for 2012.
In its forecast for this year, DBN says it expects economic growth to increase, given private sector diversification and investments.
Based on the estimated 3.8% gross domestic product (GDP) growth of 2011, Humavindu predicts that the local economy will grow between 4% and 4.2% in 2012.
“Therefore, the business growth outlook is positive as we expect private sector growth to be broad based, involving increased uranium output, investment in construction and the mining industries, as well as in manufacturing. Government’s procurement initiatives such as the Targeted Intervention Programme for Employment and Economic Growth (TIPEEG) will also greatly enhance economic activity,” Humavindu said.
According to the Namibia Macro-economic Outlook 2011/2012 report by Investment House Namibia for 2011, Namibian GDP was forecasted to grow by 4.6% in 2011 and is expected to accelerate further in 2012 by 5.1%.
During the course of this year, the Development Bank aims to increase its total loans and equities portfolio to at least N$1.6 billion. This is in line with its plan and targets to grow its loan book by N$300 million in new advances for 2011.
Furthermore, in addition to maintaining the 2011 momentum, DBN will also focus on critical portfolio management aspects such as ensuring correct configuration of short, medium and long term loans to ensure sustainability. “The bank will also continue looking at opportunities to increase its equity investments portfolio,” he said.
The bank also expects the small and medium enterprise (SME) sector to grow further in 2012.
“We expect this growth to continue in 2012, as the anticipated broad based economic activity will foster linkages at sectoral value chain levels and so increase SMEs and other businesses’ need for financing,” said Humavindu.
Based on preliminary estimates, the bank advanced financing to 299 entities in 2011.
“And DBN’s target was to grow its loan book by N$300 million in new advances for 2011 and this target has been achieved,” Humavindu said.

About The Author

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.