Paratus doubles in value on NSX

Paratus Group chief executive officer Schalk Erasmus

Paratus Namibia has doubled in market capital on the Namibian Stock Exchange (NSX) after selling all the shares it was offering.

The company raised over N$600 million through a recent investment round.

According to a company statement released on Thursday, 61,9% of the capital came from Paratus Group, followed by institutional investors (34%), Paratus employees (2,6%), and retail investors (1,5%).

Schalk Erasmus, Paratus Group chief executive, says this investment will give the company a technological advantage in the market.

“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.

“By harnessing the power of Big Data, Machine Learning, and AI in the digital environment, we will monitor and optimise the entire customer journey and experience,” Erasmus says.

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