Namibian tycoon Quinton van Rooyen’s Trustco files lawsuit against Bank of Namibia
Van Rooyen owns 63.94 percent of Trustco.
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Van Rooyen owns 63.94 percent of Trustco.
Van Rooyen’s equity interest is still down by more than $40 million.
Shares in the group rose 35.56 percent as a result.
Van Rooyen owns 63.94 percent of the leading Namibian company.
His net worth increased by $29 million in the first week of 2022.
It is the second year in a row that the diversified investment holding has posted losses.
The gains will provide a cushion of sorts to the $190-million loss in his net worth in 2021.
Meya Mining is majority-owned by Quinton van Rooyen’s Trustco Resources in partnership with Sierra Leonean company, Germinate SL Limited.
Trustco is a diversified investment holding majority owned and operated by the Namibian van Rooyen family.
Trustco shares on the Namibia Stock Exchange have now lost more than two-thirds of their value.
The $167.92-million loss can be linked to a sell-off in the shares of the investment holding.