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
-
Meet CUBITA, the Six Countries That Could Reshape Global Agriculture
03:01
-
Madagascar Launches Subsidized Device Program to Expand Internet Access
02:58
-
Climate Change Could Wipe Out Up to 65% of Africa’s Grazing Land by 2100, Study Says
02:55
-
Afreximbank Expands Footprint in Cameroon With CFA600 Billion Push
20:06
-
Cameroon Orders 3,442 Teachers to Prove Status or Face Payroll Removal
19:43
-
Cameroon Grants Traditional Chiefs Power to Issue Provisional Land Certificates
19:40
-
Cameroon Navigates Tight Global Markets With Multilateral Backing
19:38
-
DRC Prepares Second Phase of Nationwide Airborne Geological Survey
19:09
-
GSMA Targets Emerging Markets with New Clean Tech Grant Program
17:37
-
Madagascar Launches $3 Million Public Virtual University Project
17:20
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...
Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...
BOAD appointed Adji Sokhna M’Baye as Chief Executive Officer of BOAD Market Solutions, its new str...
Algeria plans to launch construction of the $13 billion Trans-Saharan Gas Pipeline (TSGP) a...
French think tank coins “CUBITA” for six agricultural powers Group accounts for one-third of global farm exports Report says members could reshape...
Africa’s grasslands could shrink up to 65% by 2100 Over 110 million livestock farmers risk losing incomes Globally, up to half of grazing land may...
Xcalibur to launch $297.8 million mapping phase in DRC Three-year surveys to cover 700,000 square kilometers Program aims to modernize data,...
Senegal, Canada finalize plans for Dakar-Montreal flights Air Transat to operate twice weekly from June Route expected to boost diaspora...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...