Namibia: Nimbus seeks to take a full stake in Paratus Telecommunications and rename the company
Friday, 04 October 2019 11:17
Following its annual general meeting held last week, Nimbus Infrastructure Ltd’s shareholding approved the acquisition of the full stake in pan-African telecom company Paratus Telecommunications (Pty) Limited.
Nimbus also plans to rename the company Paratus Telecommunications into Paratus Namibia Holdings Limited once the Namibian Communications Regulatory Authority (CRAN) gives its approval and the operation is completed.
The Namibian company acquired an initial stake of 26.5% in Paratus Namibia in February 2018 and increased its ownership to 51.4% in May 2018. In total, more than N$200 million in cash and shares were invested by Nimbus Infrastructures Limited in these transactions.
After the 100% stake is acquired, Nimbus’ shareholding will consist of Capricorn Investment Group, Standard Bank Nominees (Pty) Ltd, CBN Nominees (Pty) Ltd, and First National Bank Nominees (Namibia) (Pty) Ltd.
Live News
-
Cameroon Flags 700,000 Undeclared Phones Under New Customs System
21:05
-
Egypt Reviews $5 Billion Green Ammonia Project Backed by Renewable Energy
20:54
-
Germany Helps Cameroon Structure €32 Billion Infrastructure Project Pipeline
20:48
-
Togo, Kyrgyzstan sign strategic cooperation agreements in Bishkek
20:31
-
Ghana navigates trade friction as AI reshapes customs enforcement
20:30
-
West Africa’s Rice Market Grows Fast, but Structural Gaps Hold Back Its Full Potential
20:26
-
IFC Weighs €21 Million Loan to Back Gozem Expansion in West and Central Africa
19:37
-
UEMOA Debuts First Mortgage-Backed Bonds to Support Housing Finance
19:36
-
Cameroon, Germany push private investment, aim to drive deals at ProMote 2026
19:19
-
Simangele Mphahlele Scales eJoobi to Streamline South African Hiring
14:52
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
First RMBS listing on BRVM backed by NSIA Banque Côte d’Ivoire CFA10 billion securitization aims to expand housing finance Move seeks to deepen...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....