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Namibian Paratus subsidiary raises additional N$600 million to leverage existing capacity

Namibian Paratus subsidiary raises additional N$600 million to leverage existing capacity

Paratus Namibia Holdings Limited (PNH) has nearly doubled its market cap by raising an additional N$600 million through a fully subscribed rights issue to a group of investors which include the Paratus Group, institutional investors, Paratus employees and retail investors.

The drive to raise more capital was steered by Cirrus Capital.

The funds will be strategically allocated to expand Paratus Namibia’s existing offerings by enhancing its core systems and infrastructure. This investment will enable the company to adapt and transform its business model to meet the evolving demands of customers and the market, while optimizing capacity utilization, leveraging economies of scale, and generating increased returns from its current asset base.

Paratus Namibia offers high-quality connectivity by investing in fiber and mobile LTE technologies. The company’s goal is to be the digital partner of choice, enabling clients to leverage digital solutions to improve their operations.

The company also plans to optimize its efficiencies through infrastructure sharing; adopting cutting-edge technologies in its network; and developing business enablement and operational support systems.

Group Chief Executive, Schalk Erasmus, said “This investment is a significant milestone for Paratus Namibia, the region, and our valued customers. With this capital, and by leveraging our existing infrastructure, we will establish an unparalleled technological advantage in the market. As a digital partner to our customers, we will help them take their businesses to new heights.”

Central to this expansion will be our unwavering commitment to deliver world-class customer service. By harnessing the power of Big Data, Machine Learning, and AI in the digital environment, we will monitor and optimize the entire customer journey and experience.”

Schalk Erasmus, Chief Executive of  Paratus Group.


 

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