Trustco Bank Namibia Ltd., formerly the FIDES Bank Namibia, was a commercial bank in Namibia owned by Trustco Group Holdings. Its main commercial activity was to provide microfinancing services.
History
The bank was built after a pilot project called Koshi Yomuti ELO.[2][3] This project developed microfinance activities from 2002 to 2010,[4][5] targeting specifically rural population seeking to develop income generation activities. This project initially started in Ohangwena Region and moved to Ondangwa in 2005, Oshakati in 2006 and Outapi in 2007.
Upon creation of the bank, then operating as FIDES Bank Namibia, the portfolio of loan was transferred to the new institution, which developed from then on an