Summary of Proposed Investment
Project Number
28761
Company Name
TRUSTCO GROUP HOLDING (PTY) LTD
Date SPI Disclosed
Jun 29, 2010
Country
Namibia
Industry
Financial Markets
Projected Board Date
Jul 29, 2010
Status
Completed
Sector
Colleges, Universities, and Professional Schools
Date Revised SPI Disclosed
Jul 6, 2010
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Sep 2, 2010
Signed : Sep 21, 2010
Invested : Dec 1, 2010
Project Description
IFC is proposing to provide a 7-year senior loan of N$ 80 million (approx. US$10.9 million) to support the student lending programme of Trustco Finance, a wholly-owned subsidiary of Trustco Group Holdings (“TGH”). Trustco Finance provides loans to students to finance the upfront costs of tuition, study aids, and fees. These students are enrolled with the Institute for Open Learning which is also a wholly-owned subsidiary of TGH.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Attention: Mr.Quinton van Rooyen
Group Managing Director
2 Keller Street
WINDHOEK, Namibia
Tel: +264-61-275 4000
Fax: +264-61-275 4090
E-mail: qvr@tgi.na
Website: www.tgi.na
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384E Mail: Webmaster