Paratus raises N$600m for expansion

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 and transform its business model to meet the evolving demands of customers and the market, while optimizing capacity utilization, leveraging economies of scale, and generating increased returns from its current asset base.

Paratus Namibia has three strategic focus areas: leadership in connectivity; differentiation and long-term diversification; and optimized efficiencies. The company aims to be the leader in high-quality connectivity by investing in fiber and mobile LTE technologies. The company’s goal is to be the enterprise digital partner of choice, thereby enabling businesses to leverage digital solutions to elevate their operations. Paratus Namibia will prioritize delivering a world-class customer experience through seamless onboarding, proactive issue resolution, and personalized offerings driven by Big Data, Machine Learning, and Artificial Intelligence.

Schalk Erasmus, CEO of Paratus Group, is excited about this latest development: “This investment is a significant milestone for Paratus Namibia, the region, and our valued customers. With this capital, and by leveraging our existing infrastructure, we will establish an unparalleled technological advantage in the market. By harnessing the power of Big Data, Machine Learning, and AI in the digital environment, we will monitor and optimize the entire customer journey and experience. We will proactively meet and exceed customer expectations in today’s fast-paced business landscape.”

Paratus in partnership with Cirrus Capital, worked to engage and inform both local and foreign shareholders regarding the rights Issue, to ensure their comprehensive understanding and participation in the process. The successful investment secured from prominent institutional investors and additional investment from Paratus Group shareholders has contributed to the significant capital raised.

Paratus operates in seven African countries, Angola, Botswana, DRC, Mozambique, Namibia, South Africa, and Zambia – and the business’s extended network provides a satellite connectivity-focused service in more than 30 African countries to a magnitude of customer satellite connections across Africa. The group’s footprint extends beyond Africa to international (points of presence) PoPs in the UK, Europe, and the USA.

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