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Woolworths expands foot print

Boasting an impressive 480 square metres, Woolworths can lay claim to the biggest food market. Situated at the recently opened Grove Mall, the food market forms part of the group’s ninth store and the third located in Windhoek with similar stores located in Swakopmund, Walvis Bay and diamond mecca Oranjemund.
“Woolworths has had great success in Namibia and we are very excited about our new store at The Grove,” said Paula Disberry, Woolworths Group Director, Retail Operations.
“Having traded in Namibia for a number of years, the customers are now familiar and loyal to the Woolworths brand. We are delighted to be able to meet our customers’ expectations by opening a new store and we are optimistic about our future in Namibia.”
“With the opening of The Grove, Woolworths now has over 250 employees in Namibia. We are actively investing in staff development programmes with an emphasis on building skills. This new store in Windhoek is another example of our ongoing commitment to our African business as we deliver on our strategy to be a leading Southern Hemisphere retailer,” added Disberry.
The opening of The Grove will also coincide with the recent launch of the highly successful award-winning WRewards loyalty programme. The rewards programme allows customers as much as 20% in savings on items throughout the store.
Woolworths is also very excited to have the opportunity to partner with local suppliers as part of our fresh food offering in the country Disberry explained.

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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.