Trustco gets boost from mining, healthy Namibian real estate market

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Mining

Trustco gets boost from mining, healthy Namibian real estate market

Diversified Namibian holding company Trustco reported on Friday an uplift in its property and mining portfolios helped boost its net asset value almost a tenth, though it has felt more pressure in consumer-facing businesses, such as micro-finance.

The group's net asset value grew 9.5% to NAD1.26 billion , lifted by a R70.7-million gain in its real estate portfolio, driven by rising demand for prime real estate in Namibia. The mining portfolio grew by R154.5 million, thanks to sector resilience and increased commercial production, but also a weaker exchange rates, it said.

Valued at about R541 million on the JSE, real estate made up 45% of its portfolio as of its 2023 year, and mining just over a third. Insurance made up 8.5% and micro finance 7.3%. Its interests include Meya Mining investment, which holds several high-grade, high-value primary diamond deposits within its licence area in Sierra Leone.South Africans need to be in the know if we want to create a prosperous future.

 

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