MICRO-FINANCE INVESTEE (100% SHAREHOLDING)

• Business model which perfectly complements the education business.
• Market leader in tailor-made educational lending, enabling personal growth and development.
• Solid and sustainable returns with high growth potential.
• Well-established brand with an exemplary track record over 16 years.
• High quality loan portfolio, with more than 17 000 active account holders.

Trustco Finance is a well-established educational lending business that provides 100% financing on all courses offered by the Institute for Open Learning (IOL). Incorporated in 2005, with the aim of better meeting the needs of lower income Namibian consumers, Trustco Finance has made education a viable option for all.

Trustco Finance funds innovative educational courses that are tailored to add value to the lives and financial well-being of its customers. These courses encompass a variety of academic, information and communication technology, as well as numerous skills enhancing short courses. With more than 16 years of microlending expertise and an initial loan portfolio of only NAD 5 million, Trustco Finance has grown from strength-to-strength to become the preferred student loan financier in Namibia with a total loan portfolio exceeding NAD 600 million.

Trustco Finance’s key focus remains its customers and their needs and has invested in digital offerings and channels to improve customer satisfaction while retaining a personal touch with services offered.

The COVID-19 pandemic has severely disrupted the macroeconomic conditions globally and locally. Whilst Trustco Finance has been impacted by the pandemic due to the loss of income and/or employment of its customers as well as reduced interest rates, the rigorous application of strategies to prudently manage credit risk limited the effect on the quality of the student loan book. Trustco Finance secured USD 20 million of new funding for student lending from its existing international funders during the previous reporting period, which has enabled the business to continue providing significant financial support to Namibian students. The company will continue working with its international partners to ensure that financing opportunities remain available to Namibian students.

More information about Trustco Finance is available at: www.trustcofin.na