• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Companies

Trustco plans N$4.4 billion debt to equity conversion 

by editor
June 11, 2024
in Companies
196
A A
7
SHARES
4k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Trustco Group Holdings Limited (Trustco) has revealed plans to convert N$4.4 billion (US$235 million) of debt into equity. 

You might also like

Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

O&L Leisure launches rewards programme to encourage local travel

NamRA collects N$12.78 billion in first two months of financial year

The conversion is projected to bolster Trustco’s net asset value by approximately N$1.5 billion (US$79 million). 

Trustco Deputy CEO Quinton van Rooyen said the debt owed to Next Capital and Quinton van Rooyen will be swapped for new ordinary Trustco shares at a rate of N$1.17 (USD 0.06) per share, marking a substantial 350% premium over Trustco’s 90-Day Volume Weighted Average Price.

“This pricing aligns with the Company’s audited net asset value per share as of 31 August 2023, and is subject to obtaining shareholder and regulatory approvals, including an independent fairness opinion to ensure adherence to best governance practices,” he said. 

The transaction follows the previously announced agreement with Riskowitz Value Fund, forming part of a planned US$100 million capital raise in the US markets, which reinforces Trustco’s growth trajectory and investment strategy. 

The CEO said the infusion of capital from two long standing shareholders, including the founding family, underscores confidence in the company’s approach.

Meanwhile, Trustco is also expanding its ownership in the insurance and real estate sectors in Namibia.

“The planned acquisition of an additional 11.35% stake in Legal Shield Holdings will raise Trustco’s ownership to 91.35%, involving a N$468 million (US$25 million) equity transaction,” van Rooyen said.

Simultaneously, Trustco’s mining investment in West Africa has unveiled promising diamond resource estimates, assessed by an independent Competent Person.

This comes as the Meya River Kimberlite Dyke, with an estimated in-situ value of US$763 million, represents less than 5% of the total combined strike lengths of the Kimberlite domains within Meya Mining’s licensed Area. 

“This recapitalisation is a pivotal step towards realizing our growth ambitions and complementing our ongoing fundraising in the US markets, with a deleverage balance sheet, Trustco will be well-positioned to attract further strategic investors and generate long-term value for our shareholders,” said van Rooyen. 

author avatar
editor
See Full Bio
Tags: companiesCompaniesLatestdebtequityQuinton van RooyensharesTrustco Group HoldingsTrutsco
Share95Tweet60Share17
Previous Post

Telecom boosts connectivity with Sparkle partnership  

Next Post

Vitol Emerald Bidco to sell 58 Engen and Shell service stations in Namibia

Recommended For You

Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

by reporter
July 10, 2025
0
Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

Namibia’s annual inflation rate stood at 3.7% in June 2025, with food, alcoholic drinks, and housing costs being the main drivers, according to the Namibia Statistics Agency (NSA)....

Read moreDetails

O&L Leisure launches rewards programme to encourage local travel

by reporter
July 10, 2025
0
O&L Leisure launches rewards programme to encourage local travel

O&L Leisure has introduced a new rewards programme aimed at encouraging more Namibians to travel locally, offering significant discounts on accommodation and dining across its properties. The Leisure...

Read moreDetails

NamRA collects N$12.78 billion in first two months of financial year

by reporter
July 9, 2025
0
NamRA sees drop in illegal vehicle imports following moratorium

The Namibia Revenue Agency (NamRA) has collected N$12.78 billion in revenue between 1 April and 31 May 2025, as part of the current financial year. Of this total,...

Read moreDetails

Namibia’s national parks generate over N$140m annually

by reporter
July 9, 2025
0
Northern Namibia leads tourism growth with 58% occupancy in May

Namibia’s protected areas generate more than N$140 million annually from tourism and conservation fees and support the livelihoods of at least 500,000 people, according to a revised draft...

Read moreDetails

Namibia backs India’s pharmaceutical hub proposal

by reporter
July 9, 2025
0
Namibia backs India’s pharmaceutical hub proposal

Namibia has expressed its full support for India’s proposal to establish a pharmaceutical manufacturing hub in the country under the “Pharmacy of the World” initiative. President Netumbo Nandi-Ndaitwah...

Read moreDetails
Next Post
Vitol Emerald Bidco to sell 58 Engen and Shell service stations in Namibia

Vitol Emerald Bidco to sell 58 Engen and Shell service stations in Namibia

Related News

NWR board gets term extension

NWR board gets term extension

June 15, 2022
Botswana offers off-peak electricity to supplement Eskom supply

Botswana offers off-peak electricity to supplement Eskom supply

July 28, 2022
DBN plans debut sustainable bond issuance

DBN plans debut sustainable bond issuance

April 12, 2023

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.