Trustco plans to start education loan business
FINANCIAL services company Trustco on Thursday said it was hoping to close its R1bn JSE listed bond programme in February next year and use some of the proceeds to start up an education loan business in South Africa and bolster its recently launched insurance business launched on Monday.This week Trustco launched its legal and funeral insurance business in South Africa as part of its strategy to grow beyond its base in Namibia."We are investigating the possibility of duplicating our micro-finance business in Namibia in South Africa," Trustco CEO Quinton van Rooyen said following the release of the company’s interim results on Thursday.He pointed out that Trustco was talking to some education institutions in South Africa to try and set up an arrangement for educational loans. The plan was to roll out the educational loans early next year.Commenting on the R1bn bond programme, Mr van Rooyen said institutional investors in SA were the main subscribers. He said the facility would not be...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.