Financial services is an integrated financial services provider which has successfully operated in Namibia for the last 21 years. Since inception, it has been the key driver of Trustco group’s returns for its investors and business partners, but in the last year has had to weather the perfect storm of adverse economic conditions and its subsequent consequences.
Through bold, decisive and innovative action, the financial services segment has remained resilient and positioned itself and its world class assets to execute the new opportunities that present themselves in the modern world.
Financial services provide a full spectrum of modern and dynamic financial services to the growing middle class of Namibia as well as the rest of Africa. The business will continue to serve its customers across every stage of life, with a full bouquet of financial services products that can last a lifetime. By harnessing the existing client base and its high quality portfolio of assets, coupled with exceptional technological capabilities, it ensures sustainable value creation for all.
The financial services segment comprises of the following divisions:
• insurance and its investments consisting of
- insurance
- properties and
- education
• banking and finance consisting of
- commercial banking and
- micro-finance.
Insurance and its investments consists of the insurance division and its underlying investments, which includes Trustco Properties and the Institute for Open Learning. The insurance division offers a diversified range of financial and risk products to individuals and SMEs in Namibia and is the holder of short- and long-term insurance licences. The property division invests mostly in mixed-use land development, construction and the management thereof to contribute meaningfully to the high public demand for serviced land and housing for Namibians from all walks of life. The education division dedicates its resources, energy and passion to develop the institution to make education accessible to working students and students in the far rural areas of Namibia.
Banking and finance comprises of a fully-fledged bank with innovative banking products which promotes economic development and caters to the banking needs of individuals and businesses alike. Trustco Finance provides financial assistance for educational and training purposes ensuring an optimal structure where profits and social investment are aligned, whilst Trustco Capital provides long-term financing in the form of property advances.
Trustco Resources was established in 2015 to pursue opportunities within the natural resources sector. Its focus during the last 5 years has been on the diamond industry and the ‘mine-to-market’ strategic plan which is in the process of being realised in accordance with the original vision.
