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Funding raised for Trustco Bank Namibia

Trustco Group concluded a 100% acquisition of Fides Bank Namibia Limited, one of six licensed banks in Namibia in 2014. The financial institution was renamed “Trustco Bank Namibia” following the acquisition and recapitalization. SME lending continues to be a priority of the Bank: to offer financial assistance to Namibian entrepreneurs which will boost employment and profitability of the SMEs in the country. Part of the funding raised in this financing round will be used to restart this part of the loan book. Frankfurt School of Finance and Management is providing technical assistance to the Bank. The Bank also plans to... View Article

Verdant Capital completes debt financing of approx. ZAR 450 million for Trustco

Verdant Capital has completed for Namibian financial services and property group, Trustco, a debt financing of approx. ZAR 450 million. Trustco is listed on the JSE and the Namibian Stock Exchange with a market capitalization of ZAR 2.9 billion (approx. USD 215 million). The financing represents the second largest equity or debt financing by a Namibian-owned private sector company. The funds raised will be deployed principally in Trustco’s banking and finance segment, through Trustco Bank and Trustco Finance, the Company’s principal lending arms. The funds will be mainly used for home loans, small enterprise and individual business loans, as well... View Article