Nimbus increases stake in Paratus Namibia

parattusNimbus 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. (Image source: Nimbus)Nimbus Infrastructure Limited, Namibia’s first listed Capital Pool Company (CPC), has increased its shareholding in Paratus Namibia to 51.4 per cent 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 eight per cent of the issued share capital in Paratus for a cash payment of US$1.60mn and the balance of US$5.99mn through subscription of newly issued shares in Paratus resulting in a 20.1 per cent 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 aims to broaden the company’s capital base and enable its aggressive expansion plans and infrastructure rollout. Paratus plans to invest a total of more than US$11.98mn on infrastructure in Namibia over the next three years of which US$7.99mn will be invested in fibre infrastructure.

“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,” said Romé Mostert, co-founder and chief information officer of Nimbus.

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.

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