8 NEWS Thursday, February 8 2018 | NEW ERA Photos: Albertina Nakale and Emmency Nuukala President Ian Khama and President Hage Geingob sign the Boundary Treaty between Namibia and Botswana that will see the border between the two countries clearly marked. Members of the Army Brass Band in red, Airforce Brass Band (in blue) and the Navy Brass Band (in white) were part of the welcoming party that received President Ian Khama. An Oshiwambo cultural group was on hand to welcome President Ian Khama at State House in Windhoek during his two-day State visit to Namibia this week. With Khama is his Namibian counterpart President Hage Geingob. President Hage Geingob, left, interacts with President Ian Khama. On the podium, President Ian Khama with President Hage Geingob at State House where the visiting Botswana president received a warm welcome. During his stay President Ian Khama, in the middle, also toured the Goreangab water reclamation works. On the right, Windhoek Mayor Muesee Kazapua. Botswana President Ian Khama was treated to a red carpet reception.
NEW ERA ECB urges banks to clean up before next crisis Page 11 The quest for truth and trust amid rumours and research notes about Steinhoff, Capitec et al Page 12 INSIDE BUSINESS This news is your business No tangible signs of economic recovery: Likukela WINDHOEK The Namibian economy has not shown tangible signs of recovery, local economist, Mally Likukela, managing director of Twilight Capital Consulting has said. Responding to questions on Namibia’s economic standing on Tuesday, Likukela further opined that the economy will not experience any growth in 2018 as most fundamentals remained “subdued”. “There is no tangible sign of recovery thus far. What is there is just some indicators that seem to suggest that a recovery is possible in the near future. But those indicators need to be nurtured and given time to entrench deeper before anyone can make a pronouncement,” he said. According to Likukela, business confidence is also weak as can be seen in the low appetite for vehicles. “Vehicle sales are lead economic indicators and when the sales are low, it means demand or outlook is also gloomy,” he explained. Asked about the kind of information Government ought to provide to show that the economy is on a recovery path, he said: “Gross Domes- the most plausible data that can suggest a recovery. All other data are just indicators of possibilities. If GDP data says there is no growth, then there is no growth.” Likukela’s comments come at a time when President Hage Geingob tightened the noose on Government spending by temporarily barring politicians and civil servants from undertaking foreign business travel. Geingob has been containing his own travel expenditure by only undertaking absolutely critical outbound travel and with smaller delegations since Government has maintained that it is be- and not broke as purported. When approached by Nampa on Monday, Finance Minister Calle Schlettwein reiterated: “We are not broke. We are in a better position this time, when compared to the same time last year.” This comes after media reports that the Namibian Defence Force could no longer feed or house its soldiers, or foot the bill for water and electricity at army bases, subsequently sending thousands of soldiers on leave. – NAMPA Mally Likukela Nimbus acquires stake in Paratus for N million Staff Reporter Windhoek Capital pool company, Nimbus, has acquired a 26.5 percent stake in Paratus Africa, at a cost of N million. The acquisition is in Paratus’ Namibian operations. Nimbus acquired eight percent of the issued share capital in Paratus for a cash payment of N million and the balance of N million in shares. Nimbus is the first capital pool company to list on the Namibian bourse in September last year. A capital pool company is a capital raising structure that is relatively commonly utilised in North America and more recently, South Africa, which allows for capital raising and co-investment by various institutional and individual investors in order to seek and develop potential investments. Paratus Africa is the fastest growing and also the largest privately owned Pan African telecoms operator. It already delivers products and services to 22 African countries and has fully licenced and mibia, Angola, Botswana, Mozambique, Zambia and South Africa. The two entities say in a statement the transaction “allows huge potential growth for both Namibian entities to grow beyond Namibia’s border.” “We plan to invest a total of more than N0 million on infrastructure in Namibia over the next three years of which N0 million will be structure,” said Paratus CEO, Barney Harmse. He says the partnership with Nimbus as an equity partner would broadening the capital base of Paratus and would enable its aggressive expansion plans and infrastructure rollout. Nimbus CEO Schalk Erasmus says 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,” says Erasmus. “Nimbus intends to raise further capital in the Namibian markets to leverage off ICT opportunities in Sub-Sahara Africa,” he said. Nimbus Infrastructure is a Capital Pool Company jointly managed by Paratus and Cirrus Capital with the objective of pursuing investments in the Information Communication and Technology Sector in sub-Saharan Africa. Paratus is the largest privately owned Pan African telecoms operator Windhoek. The company was founded as Internet Technologies Group (ITG) Namibia in 2005, the first privately and 100% wholly owned Namibian telecommunications operator. Paratus has, as of 2017, a turnover of N billion and a total budget for Africa over the next million (nearly N,5 billion). Paratus has fully li- Namibia, Botswana, Mozambique, Zambia and South Africa and delivers products and services to 22 African countries. Since inception, Paratus has established a the entire Namibia, with additional international points-of-presence located in Johannesburg, Lisbon as well as London. This network is commensurate of its ability to provide exceptional customer service at all times. On March 20, 2012, Paratus was issued with a Class Comprehensive Telecommunications Service License (ECS & ECNS), following further expansion of its 4G network, national and international network to provide telecommunications services to the Namibian public at large as well as the private and corporate sector.