Nimbus acquires stake in Paratus Africa

NimbusParatus CEO Barney Harmse aims to broaden the company’s capital base and enable its expansion plans and infrastructure rollout. (Image source: Nimbus Infrastructure Limited)Nimbus Infrastructure Limited has acquired a 26.5 per cent stake in Paratus Africa’s Namibian operation for an amount of US$7.98mn

Paratus Africa is one of the largest privately owned Pan African telecoms operators.

Nimbus acquired eight percent of the issued share capital in Paratus for a cash payment of US$1.68mn and the balance of US$6.30mn in shares.

This transaction allows huge potential growth for both Namibian entities to grow beyond Namibia’s border. Paratus delivers products and services to 22 African countries and has fully licensed and operational offices in Namibia, Angola, Botswana, Mozambique, Zambia and South Africa.

Nimbus CEO Schalk Erasmus said that with the Nimbus listing on the Namibian Stock Exchange, the company deepened the Namibian capital markets. “This will allow the Namibian savings pool to diversify its exposure into the internet, communication and technology space, a sector which to date has not yet been on the NSX.”

“Nimbus intends to raise further capital in the Namibian markets to leverage off ICT opportunities in Sub-Sahara Africa,” he added.

Barney Harmse, CEO of Paratus, is excited about on-boarding Nimbus as an equity partner, broadening the company’s capital base and enabling its expansion plans and infrastructure rollout.

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