Marc Hasenfuss Editor-at-large

Namibian investment company Trustco — fortunate to have been unshackled from a recent R1bn loan made by its founding executive and main shareholder, Quinton van Rooyen — continues to bewilder.

This week Trustco stumped up an eye-popping R2bn to buy loss-making Constantia Insurance, a subsidiary of JSE-listed Conduit Capital. Before the proposed takeover was detailed, Conduit carried a market capitalisation of less than R900m.

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