Paratus Africa sells stake to Nimbus

A 26.5% stake of Paratus Africa's Namibian operation that is worth an amount of N$95-million has been obtained by Nimbus Infrastructure Limited.

The capital pool company bought eight percent of the issued share capital in Paratus for N$20-million and the balance of N$75-million in shares.

The deal creates potential growth Namibian entities to grow beyond Namibia's border. Paratus also plans on investing more than N$150-million on infrastructure in Namibia over the next three years