Namibia - Trustco Finance

The project is a Corporate Loan of 65 million South African rand (ZAR), with a 7-year tenor, for the purpose of supporting the student lending program of Trustco Finance, a wholly-owned subsidiary of Trustco Group Holdings Ltd. Beneficiary students are enrolled with the Institute for Open Learning (IOL), which is also a wholly-owned subsidiary of Trustco. IOL is Namibia’s largest private distance learning education institution while Trustco Finance, through the provision of microloans, ensures that all of IOL’s students can pursue their education without the burden of financial constraint. The project aligns well with the CSP for Namibia which emphasizes the importance of providing support for the development of critical capacity in government, private sector and civil society through access to credit and trainings.