Trustco, the embattled Namibian investment company, is courting another controversy — this time involving its loss-making banking subsidiary.

Last week, Trustco — which also holds diamond mining interests, property, insurance and private education assets — went to court to stave off attempts by the Bank of Namibia (BON) — the central bank of Namibia — to set aside directives issued against Trustco Bank. The directives include immediately ceasing deposit taking and discontinuing the extension of credit...

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