Trustco's Debt To Namibia's Van Rooyen Family Rises To 280 Million

Trustcos total debt to the Van Rooyen familys Next Capital has climbed to 280 million, strengthening the familys financial control.

Trustco plans to delist from the JSE and transition to Nasdaq to access international capital markets and attract global investors.

The FTSE/JSE Africa Index warned Trustcos suspension could lead to removal if it exceeds 20 business days, impacting its market value.

Windhoek-based investment holding company Trustco Group has revealed that its total debt to the Namibian Van Rooyen family, managed through its investment vehicle Next Capital, has climbed to 280 million following the latest debt acquisition.

In a statement , Trustco announced that Next Capital, the founding family shareholder, had acquired international debt worth NAD297 million 16 million from one of its investment subsidiaries. The move deepens the financial ties between Trustco and the Van Rooyen family.

With this latest acquisition, Next Capital now holds NAD5.121 billion 280 million in total long-term debt across the group. This debt package includes a mix of interest-bearing and non-interest-bearing components, as well as secured, unsecured, and equity-linked obligations.

The founding family now controls 70 percent of Trustcos long-term debt, solidifying its influence over the companys financial direction.

Commenting on the development, Trustcos deputy CEO, Quinton Z van Rooyen, said the goal is to align Trustcos debtholders with its vision of expanding into new markets and unlocking fresh opportunities.