Paratus, a pan-African telecommunications group, says it is aiming to expand its customer base to 600,000 connections by 2028.
According to Paratus’ CEO, Schalk Erasmus, the group’s growth plan includes ongoing investment in network infrastructure across Africa, from fibre networks to data centres, and a commitment to sustainable operations.
Paratus serves customers in over 30 African countries and has been instrumental in projects like the Equiano subsea cable landing in Namibia and the East-West fibre route across the continent.
“While this is still very much at the heart of our mission, what we really want to do is to connect more people and enrich their lives. In turn, we want our people to be passionate about delivering this mission,” he said.
“It is very simple because if we are true to that goal, we cannot help but be even more successful. I believe that when you only focus solely on the bottom line and make money as your driving force, much of your ethos is challenged along with the joy of doing the work,” Erasmus added.
He further explained that the company’s vision is not only to connect people but to empower communities.
Recently, Paratus extended connectivity to a remote Mozambican community, bringing internet to 1,000 residents, including a school, via a LEO satellite link.
Such initiatives, Erasmus explains, underscore the transformative impact of connectivity, improving lives with minimal environmental footprint.
“Financial success is important,” Erasmus notes, “but it’s equally crucial to remember why you started the business and what you stand for. Our core is connecting people and enriching lives, and we strive to do so while remaining true to our values”.
This approach, he believes, ensures lasting success and purpose-driven growth.
This comes as in May, the company successfully raised over N$600 million from its 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%).
