Nimbus Infrastructure, Namibia’s first listed Capital Pool Company (CPC), has increased its shareholding in Paratus Namibia to 51,4% in a share swap transaction.
Paratus Namibia forms part of Paratus Africa, the fastest growing and also the largest privately owned Pan African telecoms operator.
Nimbus acquired 8% percent of the issued share capital in Paratus for a cash payment of N$20-million and the balance of N$75-million through subscription of newly issued shares in Paratus resulting in a 20.1% dilution of existing shareholders.
As a significant shareholder in Paratus Namibia, Nimbus will now secure a firm foothold in the ICT sector. This will serve as a stable platform for the NSX listed company to grow and expand.
This transaction will broaden the company’s capital base and enable its aggressive expansion plans and infrastructure rollout. Paratus plans to invest a total of more than N$150-million on infrastructure in Namibia over the next three years of which N$100-million will be invested in fibre infrastructure.
Nimbus co-founder and CIO Romé Mostert says Paratus Namibia will now be a subsidiary of Nimbus and its financial results will be consolidated into Nimbus’ financial reports.
“A consolidated interest in Paratus Namibia will make Nimbus an attractive investment partner, as Nimbus will be able to unlock unique synergies from future investment opportunities through its strategic alliance with Namibia’s largest independent telecommunications operator,” he explains.
It will also establish Nimbus as an integral player in the Paratus Group with a proven investment track record, which will secure Nimbus access to the Paratus Group investment pipeline in the rest of sub-Saharan Africa.
Nimbus intends to expand in a sustainable manner by way of strategically making further acquisitions and investments in the ICT sector.
Nimbus interest in Paratus will allow access to the TKF-Line, which is believed to play an instrumental role in the future private sector growth in the ICT sector in Namibia and further into the land-locked countries of sub-Saharan Africa.
Paratus already delivers products and services to 22 African countries and has fully licensed and operational offices in Namibia, Angola, Botswana, Mozambique, Zambia and South Africa.
As Namibia’s first CPC, Nimbus represents an opportunity to prove a new concept that will likely form a critical part of the future development of the Namibian real and financial sectors.
“Saving and investing is critical for an economy as investment drives increases in productive capacity and long term growth, vital for wealth and job creation, and ultimately poverty reduction,” he concludes.