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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now