Our History

OUR HISTORY

1992	Trustco Group founded
2000	Trustco is granted its first insurance licence Short-term insurance operations commence
2001	First Informanté  edition published – Trustco’s nationwide Namibian newspaper
2004	Trustco is granted its long term insurance licence Life insurance operations commence Trustco Air Services operations commence, with charter flights across the country Lafrenz Industrial Park acquired, formerly known as Farm Nubuamis – 373 hectares on the outskirts of Namibia’s Capital, Windhoek
2005	Education and finance operations acquired in Namibia
2006	Trustco lists on the Namibian Stock Exchange (NSX)
2007	Trustco expands into South Africa
2009	Trustco lists on Johannesburg Stock Exchange Ltd (JSE)
2010	NAD80 million in DFI funding secured Insurance for Namibia mobile clients launched Monetisation of land bank started Ondangwa land acquired – 42 hectares earmarked for residential and industrial development in Northern Namibia
2011	Insurance expanded to include retail clients
2012	NAD165 million line of credit secured ZAR1 billion bond issue approved Insurance expanded to South Africa Trustco listing moved to Main Board of the JSE
2013	Domestic medium-term note programme listed on the JSE Main Board Elisenheim Property Development Company acquired – 1 186 hectares development outside of Windhoek, earmarked as a large-scale residential development ZAR300 million bonds issued Employment Equity Commission award in Namibia. The company ranked 8thout of 738 employers in Namibia
2014	ADR program launched in the USA Acquired Fides Bank Namibia, now Trustco Bank Namibia Trustco placed third in Deloitte’s annual ‘Best Company to Work For’ survey in Namibia and Southern Africa Best performing share for the the JSE Main Board, Sunday Times Trustco added to the JSE All-Share Index, the Small Cap Index, the Value Index, Growth Index and Financial Index PMR Diamond Award Winner for good corporate citizen, advancement of corporate leadership and corporate responsibility initiatives and investment Farm Herboths acquired – 2 766 hectares, earmarked for a residential township development
2015	Trustco Resources established Winner of Deloitte’s annual “Best Company to Work For” survey in Namibia Awarded second place in the Sunday Times Top 100 Companies, South Africa Launched the Trustco Top 40, showcasing employees with outstanding service Acquired Watermeyer Mining and Construction Services, now Trustco Construction Services Employment Equity Commission award  in recognition of good performance in the promotion of Employment Equity in Namibia Shareholders approved the Huso transaction, in which Trustco Resources acquired a Namibian alluvial diamond operation and a cutting and polishing factory
2016	PMR Diamond arrow award in the business category for “Most Innovative Companies” in Namibia NAD770 million line of credit secured Winner of Deloitte’s annual “Best Company to Work For” survey in Namibia for the second year running Trustco placed in the Top Ten of the Sunday Times Top 100 companies of the JSE. Trustco Resources acquired 51% of Meya Mining – a Sierra Leonian diamond mine producing Type IIa diamonds
2017	Trustco earned Royal status and was placed in the Top 10 of the Sunday Times Top 100 companies of the JSE Limited for the 3rdconsecutive year. Royal status is awarded to companies who have placed in the Top 20 positions for a third consecutive year. Trustco placed second in the Deloitte’s annual  Best Company to Work For 2017 Survey in Namibia and also earned a Platinum Achievers Award Seal. The seal is a demonstration of the attractiveness of the organisation and commitment to its people, enabling the organisation to market itself as an employer of choice Shareholders approved the Riskowitz issue of shares for cash transaction, issuing 58.8 million shares for NAD 250 million in cash Shareholders approved the Buckley transaction, whereby Trustco repurchased 41.8 million shares for NAD 200.6 million Shareholders approved the amendment to the Huso transaction, which adjusted the earn-out targets of the Namibian diamond operations PMR Diamond Arrow Award Winner in the category ‘Leaders and Achievers.’ Awarded to companies demonstrating exceptional managerial and corporate governance qualities Mixed FM radio station began broadcasting 476 Carats Meya Prosperity Diamond discovered at Meya Mine in Sierra Leone. 30th Largest diamond ever discovered
2018	Establishment of the Trustco Unit Trust Scheme and registration of Trustco Unit Trust Management Company PMR Award Winner: Diamond – Most Innovative Company / Institution in Namibia Shareholders approved the Legal Shield Holdings transaction Huso transaction perfected, as Mining Licence is issued to the Namibian diamond operations Trustco placed second in the Deloitte’s annual  Best Company to Work For 2018 Survey in Namibia and also earned a Gold Seal of Achievement. The seal is a demonstration of the attractiveness of the organisation and commitment to its people, enabling the organisation to market itself as an employer of choice. The company has consistently placed in the  top 2 positions for a fourth year in a row Awarded a Certificate of Appreciation from the Ministry of Labour, Industrial Relations and Employment Creation for being amongst the Top Designated Employers in Namibia complying with the Employment Services Act Gold award received from Namibia Rhino Conservation for Trustco’s valued contribution to help save rhinos from extinction in Namibia
2019	Shareholders  Approved the Loan with a Related Party worth NAD 1 billion 2019 PMR Award Winner: Gold – Most Innovative Company / Institution in Namibia Informanté digital news and radio launched across Namibia, becoming the country’s premier news service. Meya Mining’s large scale mining licence approved and issued in Sierra Leone with effect from 26 July 2019 for a 25 year period Trustco uplisted and became the first Namibian company to qualify to have its American Depository Receipts (ADRs) trade on the OTCQX Best Market on 26 August 2019 Shareholders approved the Warrant Agreement and Transaction with Evo Fund with a potential NAD 1 billion to be raised Winner of Deloitte’s annual “Best Company to Work For” survey in Namibia and also earned a Gold Seal of Achievement. The seal is a demonstration of the attractiveness of the organisation and commitment to its people, enabling the organisation to market itself as an employer of choice
2020	PMR Award Winner: Gold – Leaders and Achievers category, awarded to companies for their contribution to the economic growth and development of Namibia NAD340 million line of funding secured for utilisation in the financial services portfolio of the group in Namibia
2021	PMR Award Winner: Gold – Leaders and Achievers category, awarded to companies for their contribution to the economic growth and development of Namibia 1 September 2021 Trustco complies with the exception to IFRS 10 and began to report as an investment entity
2022	PMR Award Winner: Gold – Leaders and Achievers category, awarded to companies for their contribution to the economic growth and development of Namibia, most innovative companies/institutions 21 August 2022 Trustco celebrates its 30th birthday
2023	Covest Wealth Managers (Pty) Ltd, Trustco’s investment management arm, commenced operations