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Au revoir Ian Leyenaar

FNB Chief Executive Officer, Ian Leyenaar

FNB Chief Executive Officer, Ian Leyenaar

FNB Namibia recently announced that its Chief Executive Officer, Ian Leyenaar will resign after leading the bank for a year. Leyenaar was appointed to spearhead FNB in February 2013. The 57 year old held several directorships including; FNB Namibia Holdings Limited, First National Bank of Namibia, FNB Insurance Brokers, and FNB Trust Services.
Sarel van Zyl has subsequently been appointed to succeed as an Executive Director effective 1 December 2014.
Said FNB Holdings in a statement, “Mr. Ian JM Leyenaar will resign as Executive Director on the FNB Namibia Holdings Limited boards and subsidiary boards with effect from 1 December 2014. Mr. Leyenaar will remain with FNB Namibia during a transition period ending in December 2014.”

Under Leyenaar’s management, FNB Namibia Holdings reported a profit before tax passing the billion dollar mark to N$1.1 billion while earnings per share shot through the roof, increasing to 298 cents or 30% on the previous year. Leyenaar and his team also witnessed a growth in the retail segment. FNB Namibia recorded a 22% growth in lifestyle accounts, 18%growth in transactional volumes, 14% in net advances, and 17% growth in deposits while growing the branch network and opening an additional 3 branches.
Leyenaar’s tenure as FNB boss has also seen the bank effectively embrace technology and allowed for the introduction of card-less cash withdrawals from FNB Namibia ATMs, and the introduction of EMV chip-based credit and debit cards that attempt to reduce fraud and card-cloning.

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.