By: Justicia Shipena
Trustco Group Holdings Ltd has outlined plans to raise N$2.4 billion from shareholders, signalling its commitment to harness Namibia’s economic potential.
In a media release on Tuesday, the group announced ongoing negotiations with significant investors, underscoring its confidence in Namibia’s promising economic future and Trustco’s proven ability to channel capital into high-growth sectors.
In the first deal, Trustco and the US fund Riskowitz Value Fund LP (RVF) are poised to invest up to N$950 million in cash into Trustco, solidifying RVF’s role as a foreign anchor investor.
The financing is anticipated to provide Trustco with unparalleled financial strength to seize new opportunities and fortify existing investments in Namibia’s rapidly evolving economy.
Additionally, Next Capital (Pty) Ltd and firms associated with Trustco’s founder, Quinton van Rooyen, have proposed converting debt totaling N$1.48 billion into new ordinary shares in Trustco.
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