The Trustco Group has distanced itself from the financial liabilities accrued by the Trustco United Bowling Club, formerly known as the TransNamib Bowling Club.
This follows a story published by this newspaper last week about the bowling club’s eviction by TransNamib from its premises due to failure to honour rental commitments over the past 80 years.
Trustco Group Holdings’ head of public relations and communication Neville Basson on Friday dissociated Trustco from the financial liabilities of the club. He noted that it recently incorporated the bowling club into its expanded sports disciplines, and bears no responsibility for any debts accrued by the bowling club.
“The Trustco United Sports Club officially incorporated bowling as a new sports discipline in February 2024, and promptly announced the update across their social media platforms. While Trustco Group Holdings serves as the main sponsor of the sports club, the company bears no responsibility for any liabilities accrued by the sports club or bowling club prior to or following this date,” he stressed.
The bowling club had claimed they were unfairly kicked out without a plausible reason.
The chairman of the Trustco United Bowling Club, Christo Steenkamp, expressed frustration that they had attempted to reach an agreement with TransNamib, but were not given an opportunity to engage in discussions. The club also sought the intervention of the Namibia Sports Commission, but no opportunity was provided.
However, TransNamib spokesperson Abigail Raubenheimer refuted those claims, stating that the club had not paid for utilities since their occupation began, adding to TransNamib’s financial woes. Despite attempts in 2018 and 2019 to establish rental conditions and bill the club for utilities, the club did not comply, and even questioned TransNamib’s ownership in court documents.
“This ongoing non-compliance indicated a lack of a viable partnership, with TransNamib unfairly subsidising the club’s activities. TransNamib has always maintained ownership of the property in question. The decision to reclaim occupation of the property stemmed from the bowling club’s failure to comply with the requirements set out to rent properties from TransNamib,” she said.
Last month, TransNamib appointed seasoned executive Desmond van Jaarsveld as their new CEO. He took the helm at a time when the company’s financial losses were reportedly exceeding N$15 million per month. In 2022, reports indicated that TransNamib was operating with a monthly deficit of over N$10 million. The company heavily relies on government subsidies to support its daily operations, a situation deemed “not a sustainable long-term solution.”
Despite these challenges, TransNamib remains optimistic about overcoming them. During the 2019/2020 financial year, the railway entity achieved a historic revenue growth, with a 10.5% increase in freight revenue.
-mkambukwe@nepc.com.na