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
-
Zambia Unveils National Strategy to Protect Young Internet Users
06:18
-
Togo’s Edomatch Targets Faster Hiring With Mobile Recruitment Platform
06:09
-
Hussein Wahdan Automates Enterprise HR Management
06:00
-
Guinea Seeks to Modernise Its Civil Service to Meet Labour-Market Needs
05:59
-
Yttrium: Prices Surge 3,500% for a Metal South Africa Plans to Produce
05:55
-
Maersk to Resume Suez Canal Transit in December
05:48
-
Cameroon: AGL Invests $1.8 Million in New Equipment
05:45
-
FSD Africa Rolls Out $30Mln Fund for African Insurtech Innovators
14:14
-
CHR Lomé-Commune Commissions New Medical Scanner
13:56
-
Access Bank, in Partnership with IFC and AGF, launches Cameroon’s First-Ever Womenpreneur Pitch-A-Ton
13:42
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
The government launched FUGAS, a new digital administrative and payroll system, as a strategic reform tool. The initiative forms part of a broader...
Yttrium oxide prices jumped from $6/kg to $220–320/kg after China restricted exports. South Africa prepares to enter medium-term yttrium...
Maersk will resume transit through the Suez Canal from December 2025 after a two-year diversion. The Suez Canal Authority has cut transit fees by 15%...
AGL Cameroon invested CFA1 billion ($1.8 million) in new port equipment. The company has already spent more than CFA8 billion on equipment in...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...