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
-
East Africa Rolls Out Major AI Education Drive with University Network
05:50
-
Durban’s Main Container Terminal Set for 25-Year PPP to Drive Modernization
05:46
-
Zimbabwe Targets Rail Revival to Boost Regional Commerce
05:43
-
Liberia Approves Ivanhoe Atlantic Deal for Yekepa–Buchanan Rail Corridor
05:40
-
Eneo to Install 20,000 Smart Meters on Public Buildings in 2026 to Secure State Billing
05:31
-
Cameroon Telecom Investment Jumps 35% to CFA194.49bn in 2024
05:29
-
Mbalam Iron Ore Mine Delays First Exports to Early 2026
05:26
-
CDEC’s Richard Evina Obam Pushes Strict Strategy Amid Resistance
05:23
-
Tône 1 Commune Lays Groundwork for Decade-Long Waste Management Plan
16:00
-
France, Togo Launch CFA620M Local Governance Project
15:52
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Transnet and ICTSI sign a 25-year partnership to upgrade Durban’s Pier 2 terminal Private investment aims to boost capacity to 2.8 million TEU and...
The NDS 2 strategy prioritizes rail rehabilitation to support mining and ease road pressure A new 217-km railway from Lion’s Den to Kafue will...
Parliament clears Ivanhoe Atlantic to operate the key Yekepa–Buchanan rail corridor Deal includes nearly $1 billion in fees and $800...
In its search for financing to build the Dasa uranium mine in Niger, Canada’s Global Atomic is now considering a new state-backed partner. Already in...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...