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Interest rates, slump, cited for sales decline

The National Association of Automobile Manufacturers of South Africa said earlier this week new vehicle sales started the year on a weak note, in line with general industry expectations. All major sectors recorded declines compared to January 2013.
For South Africa, January 2014 aggregate new vehicle sales at 53,025 units registered a decline of 3874 vehicles or a fall of 6.8% compared to the 56,899 vehicles sold in January last year. Most major segments recorded year on year declines – new cars 7.0%, light commercials 6.6%, medium commercials zero, heavy trucks 19.5% and extra heavy trucks 6.1%. Moreover, the January 2014 export sales at 13,960 units is a decline of 19.7% compared to the 17,393 vehicles exported in January last year.

The South African new car market had been under pressure in January 2014 and at 38,008 units reflected a decline of 2857 units or a fall of 7.0% compared to the 40,865 new cars sold in January last year. The car rental Industry had once again made a strong contribution and had accounted for 18.1% of new car sales in January, 2014.
Vehicle sales in Namibia in December declined to 1190 units from 1583 units in November 2013, said Namibia Equity Brokers in their survey of annual vehicle sales for 2013.
The year’s aggregate decline was 25%
“Therefore in 2013 a total of 15,083 vehicles units were sold and if the buses and the XHV units are excluded, that number reduces to 14,581 units. Out of the latter number, 2140 units fall within the broad definition of luxury vehicle, which is 15%. This attest to the anomaly of abundance amid abject poverty. This sales figures do not include the Chines produced vehicles.
For the region, NAAMSA said 2014 new vehicle sales are likely to experience head winds as a result of above inflation price increases, the slowdown in the economy and, possibly rising interest rates.

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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.