Paratus Namibia Holdings Limited (Paratus) has successfully raised over N$600 million from its recent rights issue to expand its offerings by enhancing its core systems and infrastructure.
The raised capital, according to the telecommunications company, 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%).
“Paratus Namibia Holdings Limited, in partnership with Cirrus Capital, a fully Namibian-owned financial services firm, has worked diligently 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 said.
The capital infusion, according to Paratus, has effectively doubled the company’s market capital on the Namibian Stock Exchange (NSX), and will be strategically allocated to expand Paratus Namibia’s existing offerings.
“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,” the company said.
“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.”
The telecoms company said it also plans to optimize its efficiencies through infrastructure sharing; adopting cutting-edge technologies in its network; and developing business enablement and operational support systems.
“By fostering an agile digital organizational culture and optimizing the management of key resources, including staff and infrastructure, Paratus Namibia will reinforce its brand as aspirational, successful, and enabling,” the company said.
Paratus Group CEO Schalk Erasmus said the investment is a significant milestone for Paratus Namibia, the region, and its customers.
“With this capital, and by leveraging our existing infrastructure, we will establish an unparalleled technological advantage in the market. As a digital partner to our customers, we will help them take their businesses to new heights. Central to this expansion will be our unwavering commitment to delivering world-class customer service. 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,” he said.
