Staff Reporter
In June 2022, Trustco Life launched its first Trustco Domestic Investment Programme, called Trustco Domestic Investment Programme 6a.22 (TDIP6a.22). According to the company, the purpose of the programme is to aid the upliftment of Namibian society by raising funds locally to invest in educational needs for tertiary students. This investment programme provides Namibians with the opportunity to invest locally, and guarantees above-average returns. The TDIP6a.22 programme was limited to N$50 million.
“Trustco Life is delighted to announce that after just four months, the TDIP6a.22 programme has been fully subscribed. The investment limit of N$50,000,000 has been reached, and no further investment can be accepted under the TDIP6a.22 programme,” read a statement from the company.
They added that as at 30 November 2022, investors had earned interest of N$1,212,414.83 on the TDIP6a.22 programme.
“Now that the programme is fully subscribed, investors will earn on average an annual return of N$7.5 million,” the statement continued.
CEO of Trustco Life Annette Brand expressed her satisfaction with the success of the programme. “Trustco Life offers various innovative investment products to our loyal clientele and any member of the public. Today, we are extremely thankful to be in a position to offer our investors with fixed, more than above-average market returns. In a world of uncertainty, the one thing that investors can be certain of is that their capital invested in and returns offered with TDIP are guaranteed, and not linked to or influenced by market fluctuations”, she added.
The statement from Trustco Life further explained that under the TDIP6a.22 programme, the investor could choose the period of the investment, and when they would like to receive the interest returns.
“Interest is paid either monthly, quarterly, annually or on the maturity date of the investment. The selected interest payment option may be changed by the investor at any time during the term of the investment at the discretion of the investor by providing 30 calendar days’ written notice to the insurer. Higher interest rates are paid for longer investment terms. A 12-month term will attract 12,52% interest per annum, a thirty-six (36)-month term will attract 13,81% interest per annum, and a 60-month term will attract a lucrative 14,94% interest per annum. Investors who invested for 60 months and chose the option to receive their interest on maturity of the investment will more than double their investment,” the statement reads.
The company added that in light of the success of the TDIP 6a.22 programme, the Trustco Life Board has authorised a second Trustco Domestic Investment Programme, TDIP 8b.22, which will be limited to N$150 million.
“The purpose of the TDIP8b.22 programme is twofold: Firstly, to aid the upliftment of Namibian society by raising funds to invest in the educational needs for tertiary students in Namibia. Secondly, to enhance the short-term liquidity and upliftment of Namibian society by raising funds to invest in the ordinary consumer, enabling them to bridge their short-term financial needs into long-term financial success,” Trustco Life stated.
The company noted that the TDIP8b.22 programme, with additional investment terms, “will continue to provide above-average returns, which returns, together with the capital invested, are guaranteed”.
Trustco is described as a diversified, listed, investment group aiming to create long-term sustainable growth.