Trustco Group Holdings Limited – Windhoek Observer

17 Oct

Trustco expects major deal to close by December

ObserverObserver MoneyLegal Shield Holdings Limited, Riskowitz Value Fund LP (RVF), Trustco Group Holdings Limited

CHAMWE KAIRA Trustco Group Holdings Limited (Trustco) has announced updates to its planned purchase of additional shares in Legal Shield Holdings Limited (LSH), the company announced. Originally announced on 23 April, the transaction involves Trustco acquiring an extra 11.35% stake in LSH from Riskowitz Value Fund LP (RVF). This will increase Trustco’s total ownership of LSH to 91.35%. The transaction, valued at N$468 million (US$27 million), will be completed by issuing new Trustco shares to RVF. The transaction is expected to close by 31 December. The acquisition includes valuable assets such as Trustco Insurance Limited and Trustco Life Limited, as…

Trustco board appoints independent non-executive director

ObserverObserver MoneyJanene van den Heever, Trustco Group Holdings Limited

Tujoromajo Kasuto TRUSTCO Group Holdings Limited has announced the appointment of Janene van den Heever to its main board as an independent non-executive director with effect from 1 November. Trustco’s Spokesperson, Neville Basson, says van den Heever currently serves as the managing member of Cajaka Furniture Manufacturing in Windhoek. She gained extensive experience of more than 13 years in the corporate business environment before she embarked on her journey to establish a new business venture, Cajaka Furniture, in 2013, which she still manages. Van den Heever started her career with Trustco in the early 2000s in Oshakati in the far…

Trustco secures N$345m loan

ObserverUncategorisedCovid-19, German, Trustco, Trustco Finance, Trustco Group Holdings Limited

Staff Writer Trustco Finance, a subsidiary of Trustco Group Holdings Limited has secured a US$20 million (approximately N$345 million) loan from Deutsche Investitions Und Entwicklungsgesellschaft, a German development finance institution. The loan approval is, however, subject to a final agreement currently being drafted. The bulk of the facility will be used to provide student financing, offered by Trustco Finance, as well as enhancing the educational facilities offered by the Institute for Open Learning (Pty) Ltd (“IOL”), while funding will also be made available to existing students to restructure and refinance their existing obligations as part of the group’s COVID-19 relief…