Trustco Group Holdings, the JSE-suspended Namibian investment company that recently fought off a hostile takeover attempt, on Friday saw the High Court of Namibia withdraw an application by the Bank of Namibia to wind up its subsidiary Trustco Bank Namibia.
“The former Trustco Bank remains solvent. Every depositor has been repaid in full, and no one — no depositor, creditor, or stakeholder — lost any money,” Trustco CEO Quintin van Rooyen said in a statement. Trustco had dissolved the micro finance and SME-focused bank on March 3, 2025, ending the group’s involvement in Namibian retail banking.
“The entity that the Bank of Namibia sought to liquidate is not only alive but also financially sound. The application, it turns out, was…