Trustco Finance selected as semi-finalists for European Microfinance Award
Trustco Finance, a subsidiary company of Trustco Group Holdings Ltd submitted its application for the 7th European Microfinance Award 2016 on “Microfinance and Access to Education” in mid-2016. Trustco Finance was selected as one of the ten award semi-finalists.
The 2016 award attracted a total of 30 applications from 19 countries. With the award being focused on “Microfinance and Access to Education”, it is intended to recognize the role of microfinance in enabling access to education for children and/or skill-training for youth and adults to enhance their employment and self-employment.
Trustco Finance provides 100% of financing on all Institute for Open Learning (Trustco and Namibia’s largest distance learning institution) courses for government and selected private sector employees.
Verdant Capital is acting as financial advisor to Trustco Group Holdings with respect to debt capital raising for the Group for use by its subsidiaries including Trustco Finance to fund its education loan book. Trustco Group Holdings is one of the largest Namibian owned private companies and is listed on the Namibian Stock Exchange and the JSE with a market cap of USD 180 million.