Trustco and Constantia, two financial services companies based in SA and Namibia, had ambitious plans to create a diversified and integrated group that would offer property, insurance and lending across the two markets.

Conduit and Trustco, controlled by business associates Sean Riskowitz and Quinton van Rooyen, in February 2020 announced a deal that proposed Conduit’s insurance subsidiary, Constantia, would buy Trustco subsidiary Herboths Property Development for R1bn. Riskowitz owns about 23% of Trustco...

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