105 The Mount, York, YO24 +44 1904 731436 08:00-17:00

FinanceMore Africa NewsNamibia: Capricorn Investment Group acquires 30% of Paratus Africa

September 2, 2019by myles

The company Capricorn Investment Group, owner of Bank Windhoek, has acquired a 30% stake in the telecommunications company Paratus Africa Group for 251 million Namibian dollars.

The transaction was made through the purchase of existing shares in Paratus for N $ 30 million (US $ 2 million) and subscribing for new shares for N $ 221 million (US $ 14.5 million). said the group.

This strategic acquisition was announced by the group when it published its revised financial statements for 2019, which also show an after-tax profit of N $ 1,015 billion ($ 66.2 million) for the five sectors in which it operates: Banking, Microfinance, Insurance, Asset Management and Telecommunications.

The increase of its stake in Paratus Africa Group will allow Capricorn Investment Group to benefit more from the investments made by the telecom company currently operating in seven countries: Angola, Namibia, South Africa, Mauritius, Zambia, Botswana and Mozambique.

Source: Agence Ecofin