from ALFRED SHILONGO in Windhoek, Namibia
Namibia Bureau
WINDHOEK, (CAJ News) – NAMIBIAN-based investment entity, Trustco Group Holdings, has received investments of up to US$100 million from Riskowitz Value Fund (RVF), a United-States-based firm.
The arrangement is a six-month non-exclusive agreement.
“RVF’s proven track record and in-depth understanding of global markets make them a valuable asset as we explore strategic investment opportunities,” said Quinton Zandré van Rooyen, Trustco’s deputy Chief Executive Officer.
RVF is a 23 percent shareholder in Trustco and has been an equity holder in Trustco for more than ten years.
Van Rooyen believes their confidence in the diverse portfolio of investments, strong management team, and growth prospects made them an ideal collaborator.
“We are confident that their investment expertise and knowledge of the North American capital markets will be invaluable. This strategic alliance sets the stage for Trustco’s next chapter of unparalleled growth.”
Trustco manages a diverse portfolio of investments spanning the insurance, real estate, commercial banking, micro-finance, education and mining sectors.
Namibia, the Southern African country with a population of approximately three million and a gross domestic product (GDP) per capita of US$5 000 in 2022, is seen as an attractive investment destination.
It is endowed with rich natural resources, such as diamonds, uranium, copper, gold, fish as well as recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for technology demand globally, with developments also underway in its green hydrogen projects.
The country’s economy is projected to expand by 3,7 percent in 2024, higher than the average for Sub-Saharan Africa (3,4 percent) and the world (3,1 percent).
– CAJ News