insert_link Local Trustco Group announces NAD 4.4 billion (USD 235 million) transaction with founding family. Trustco Group Holdings Limited (TTO.SJ) today announced a landmark agreement to convert NAD 4.4 billion (USD 235 million) of debt into equity, paving the way for a planned USD 100 million capital raise in the US markets. The agreement is expected to increase Trustco's net asset value by approximately NAD 1.5 billion (USD 79 million). "This recapitalization is a crucial step towards achieving our growth ambitions […] todayJune 12, 2024 8
Lifestyle Zuleikha Mayat: South African author and activist who led a life of courage, compassion and integrity By Saleem Badat, University of the Free State Few Indian South African women have achieved wider public recognition than author, human rights and cultural activist Zuleikha Mayat, who passed away on 2 February 2024. An honorary doctorate from the University of KwaZulu-Natal was just one of many awards bestowed on her during a life that spanned almost 98 years. Mayat was a remarkable pioneer, evocative writer, public speaker, civic worker, […] todayFebruary 7, 2024 6
insert_link Lifestyle Three South African universities have new approaches to assessing students: why this is a good thing By Danica Sims, University of Oxford South African higher education faces many complex challenges rooted in the legacy of apartheid. They include the fact that many students are unprepared for or excluded from higher education. Quality education is not available to all. It’s therefore difficult for many students to remain in higher education and eventually graduate. The data points to two persistent trends. The first is that, according […] todayJanuary 24, 2024 14
insert_link Business / Economics As equity deals continue to decline and volumes dry up worldwide, African startups are increasingly relying on venture debt to stay afloat. By Conrad Onyango, bird story agency In 2022, when funding from venture capitalists began to dry up in Africa, Treepz, a shared mobility startup, was faced with a difficult decision... throw in the towel or grow the business without new investors. As part of their decision to keep going, they changed their core business model. “Towards the end of 2022, we knew the funding draught would happen in Africa. We […] todayJanuary 24, 2024 3
insert_link Business / Economics Trustco Group reports resilient 2023 financial results Trustco Group Holdings Limited has released its 2023 financial results. The group maintained strong financial standing, ending the year with N$ 1.15 billion in shareholders' equity. However, the Group's Net Asset Value declined from N$ 1,834 million to N$ 1,153 million. Here’s Deputy CEO Quinton Van Rooyen Junior. todayDecember 19, 2023 43
insert_link South Africa Eskom has requested the National Treasury to convert 16-billion-rand of bailout funds into equity Eskom has requested the National Treasury to convert 16-billion-rand of bailout funds into equity in a bid to alleviate its debt-service burden. According to a report by Moneyweb, Eskom officials told investors that an application has been made to convert the subordinated loan into equity. The report indicates that the conversion into equity would lessen a debt-service burden that has prevented Eskom from carrying out adequate maintenance. This is the […] todayDecember 15, 2023 4
