BoN’s Board of Directors – Windhoek Observer

Obrein Simasiku Trustco Group Holding (TGH) has rushed to the courts seeking for remedial action, as the Bank of Namibia is working towards wind up Trustco Bank Namibia (TBN), saying it is insolvent, and does not have a sustainable business plan. “BoN’s Board of Directors is of the view that TBN is commercially insolvent at this time. As mentioned before, TBN continues to operate without an approved viable business plan and sufficient capital to carry out the plan, which is vital for the viability and sustainability of the business and is expected of all industry players. Therefore, the primary purpose…