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Paratus Namibia Holdings Limited (PNH), a leading telecommunications company in Namibia, has successfully raised over N$600-million through its recent rights Issue and investment drive, which was fully subscribed. This significant capital infusion has effectively doubled the company's market capital on the Namibia Stock Exchange News (NSX). The raised capital has been sourced from a diverse group of investors, including the Paratus Group (61,9%), institutional investors (34%), Paratus employees (2,6%), and retail investors (1,5%). The funds will be strategically allocated to expand Paratus Namibia's existing offerings by enhancing its core systems and infrastructure. This investment will enable the company to adapt…

Both China and Sweden sold 33 vehicles each in April showing that Chinese brands are making inroads with their competitive pricing and improving quality, while Swedish brands attract consumers with their safety features and innovative designs. France's 13 vehicle sales suggest a smaller but stable market segment, whereas Indian vehicles, with 18 units sold, cater to budget-conscious buyers. English vehicles have a minimal presence, with only six units sold, indicating limited preference or availability in Namibia. No Italian vehicles were sold during this period. Simonis Storm Securities said in a report in April, vehicle sales in Namibia fell to 899…

CHAMWE KAIRA Stakeholders recently held a meeting on the Auas Road upgrade. Mary Shiimi, a senior official of the City of Windhoek, disclosed that the Roads Authority is making the project possible through funding. Richard Laborn of Lithon Project Consultants presented the details of the proposed Auas Road upgrade and said road will be a dual carriageway with intersections, that will also have upgraded. Information presented at the meeting showed that there will be two lanes out (southbound) and two lanes in (northbound). Two new lanes will be built on the western side of the existing road, which will form…

Anglo American plc has announced that the value of rough diamond sales for De Beers’ fourth sales cycle of 2024, amounted to US$380 million. The provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period and remains subject to adjustment based on final completed sales. Al Cook, CEO of De Beers, said: “As expected, De Beers’ rough diamond sales in the fourth cycle of the year trended lower, in line with the seasonally slower second quarter and a quieter period of trading in India during the elections. The focus of the global diamond…