VeldBridge Holdings Makes Strategic $281M Bid for Trustco Namibia
VeldBridge Holdings makes landmark $281M bid for Trustco Namibia, promising USD 250M in fresh financing and plans for NYSE/NASDAQ listing, marking major shift in African financial markets.
Trustco Group Holdings headquarters in Windhoek, Namibia, where the landmark VeldBridge acquisition offer was announced
Major Acquisition Offer Signals New Era for Namibian Investment
WINDHOEK, Namibia - In a significant development for Namibia's financial sector, Trustco Group Holdings Ltd has announced receiving a private acquisition offer from VeldBridge Holdings Ltd, a Cayman Islands-based investment company, valued at NAD 5.05 billion (USD 281 million).
The comprehensive offer targets the entire shareholding of Trustco's founding family shareholder and Group CEO, Dr Quinton van Rooyen, marking one of the largest private sector deals in Namibia's rapidly evolving economic landscape.
Strategic Financial Restructuring
The deal includes significant debt assets totaling NAD 5.05 billion and promises access to USD 250 million in new debt financing at favorable interest rates not exceeding 6.5% per annum. This move aligns with recent trends in African market listings and corporate expansions.
Equity Exchange and Leadership Structure
- Over 7.3 billion common shares offered
- 5,000 Series B preferred shares ensuring majority voting control
- Planned NYSE or NASDAQ listing by Q1 2026
- 12-month share lock-up period post-listing
Community Development Commitment
VeldBridge's commitment includes establishing a USD 5 million non-profit foundation in Namibia, demonstrating alignment with regional economic transparency and governance initiatives. This foundation will focus on social upliftment and community development programs.
Economic Impact and Future Prospects
The transaction comes at a crucial time for Namibia's economy, which is projected to grow by 4.0% by 2026, supported by discoveries in oil, gas, and critical minerals. The country's pro-business environment and political stability continue to attract significant international investment interest.
"This offer represents an exciting opportunity for Trustco to accelerate plans for listing on a senior US stock exchange," said Quinton Z van Rooyen, Deputy CEO of Trustco Group Holdings.
Jasmine Demraoui
Journalist in governance and climate reform, based in Windhoek.