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TRUSTCO’S UPDATE ON INSURANCE, REAL ESTATE ACQUISITION

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Windhoek, Khomas, Namibia, 14th Oct 2024 – Trustco Group Holdings Limited (Trustco) has announced updates to its planned purchase of additional shares in Legal Shield Holdings Limited (LSH). Originally announced on April 23, 2024, the transaction involves Trustco acquiring an extra 11.35% stake in LSH from Riskowitz Value Fund LP (RVF). This will increase Trustco’s total ownership of LSH to 91.35%. The transaction, valued at NAD 468 million (USD 27 million), will be completed by issuing new Trustco shares to RVF. The transaction is expected to close by December 31, 2024.

The acquisition includes valuable assets such as Trustco Insurance Limited, Trustco Life Limited, and a large real estate portfolio that includes developments such as Elisenheim Lifestyle Estate, Lafrenz Industrial Park and Herboths. This portfolio consists of 2,473 sellable hectares (6,112 acres) of prime land across Namibia. Since 2011, this real estate has generated more than NAD 934 million (USD 53 million) in cash.

The extensive land bank offers the opportunity to develop more than 26,000 mixed-use plots. Over the past decade, the company has successfully serviced over 1,106 plots across its developments. With a development pipeline extending for the next 25 years, Trustco is well-positioned to address Namibia’s severe shortage of serviced land for residential, commercial, and industrial use.

Quinton Z van Rooyen, Deputy CEO of Trustco

Quinton Z van Rooyen, Deputy CEO of Trustco, commented on the transaction, stating: “This acquisition aligns well with our growth strategy and allows us to take advantage of expected capital growth, improved macroeconomic liquidity, and increased buyer demand in Namibia’s real estate market. By expanding our property portfolio, we’re set to benefit from the country’s recovering property market following the pandemic.”

Van Rooyen further emphasized the increasing interest from international investors, particularly major players in the petroleum and green hydrogen sectors from the U.S. and Europe. “The growing presence of these industry titans in Namibia strengthens our confidence and reaffirms our strategy to expand our real estate holdings. Their investments signal strong prospects for the Namibian economy, creating an ideal environment for Trustco to capitalize on these opportunities,” he added.

Trustco has submitted a circular detailing the transaction to the Johannesburg Stock Exchange (JSE) for review. Once approved, this comprehensive document will be distributed to all shareholders, providing full details on the proposed acquisition.

About Trustco:

Trustco Group Holdings Ltd is an investment entity headquartered in Windhoek, Namibia, which manages a diverse portfolio of investments spanning the insurance, real estate, non-deposit taking financial services, micro-finance, education, and mining sectors. Decisions are biased towards generational investment performance alongside shareholder wealth creation, and short-term hurdles are viewed as catalysts for future growth.

Since inception in 1992, Trustco’s investment portfolio has delivered strong returns with a CAGR of 68.97%, with a well-balanced asset mix, with a current average weighting of 34% in US Dollar based assets, while the remaining 66% is invested in Namibia Dollar (1 NAD = 1 ZAR) based assets. Trustco enjoys the backing of a wide range of coinvestors, including 3 610 from Namibia, 1 443 from abroad, and 94 from institutional entities.

About Namibia:

Namibia is a Southern African country with a population of approximately three million and a GDP per capita of USD 5 031 in 2022. The country is endowed with rich natural resources, with  recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for technology demand globally, with developments also underway in its green hydrogen projects. The Namibian government has heralded these discoveries as a transformative period, holding the potential to double the nation’s GDP by 2040.

The country’s economy expanded by 4.2% in 2023 and is projected to expand by 3.7% in 2024, following a recovery of 5.3% in 2022 from the COVID-19 pandemic. With its wealth of natural resources, pro-business environment, political stability and increasingly skilled workforce, Namibia offers attractive investment prospects across all sectors.

Forward-Looking Statements:

All statements made in this media release with respect to Trustco’s current plans, estimates, strategies beliefs and other statements that are not historical facts, including statements regarding Trustco’s plans to upgrade its ADR program and the results of such an upgrade, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

Media Contact

Organization: Trustco Group Holdings

Contact Person: Neville Basson

Website: https://www.tgh.na

Email: Send Email

Contact Number: +264612754501

Address: 2 Keller Street, Trustco House

Address 2: Windhoek

City: Windhoek

State: Khomas

Country: Namibia

Release Id: 14102418438

The post TRUSTCO’S UPDATE ON INSURANCE, REAL ESTATE ACQUISITION appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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StockNews.AI Secures Strategic Investment from Jason Calacanis’s Launch Fund

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StockNews.AI, a leading AI-powered financial content platform, has secured investment from Jason Calacanis’s Launch Fund. The platform uses advanced AI algorithms to analyze real-time financial articles and announcements, helping investors save time and make better decisions.

United States, 18th Oct 2024 – StockNews.AI, an AI-powered financial content platform, today announced that it has secured a strategic investment from the Launch Fund, founded by renowned angel investor Jason Calacanis. This funding will bolster the company’s mission to revolutionize how investors consume financial information, leveraging cutting-edge AI to deliver faster, more accurate insights.

AI Analyst That Reads News Faster Than Humans

StockNews.AI uses advanced AI algorithms to analyze financial reports, news articles, and stock market data significantly faster than human analysts. This enables investors to stay ahead of market trends, identifying critical insights in real-time.

Unlike traditional platforms that overwhelm users with information, StockNews.AI has been designed with AI-first and best design principles, offering a competitive edge by saving users countless hours of manual research while improving decision-making processes. “Our goal was to transition StockNews.AI into an AI-powered financial tool that seamlessly integrates complex data with an intuitive experience,” said Yingchia Liu, Head of Design

The platform’s newly redesigned news and event feed highlights essential data while explaining the reasoning behind the AI’s conclusions, helping users make more informed decisions. Since its launch, the new design has attracted significant interest from companies seeking to leverage StockNews.AI’s enhanced capabilities.

Through continuous model finetuning, StockNews.AI has achieved a 70%+ win rate, outperforming generic LLM models. This strong track record demonstrates the platform’s ability to consistently help users achieve superior results, positioning StockNews.AI as an essential tool for investors. Furthermore, the AI’s accuracy and power are expected to improve over time.

Launch Fund’s Investment

The Launch Fund investment marks a major milestone for StockNews.AI.  The investment reflects strong confidence in the platform’s disruptive potential and its mission to transform financial content analysis through AI.

Looking Ahead

With this new funding, StockNews.AI plans to further expand its AI capabilities and explore strategic partnerships with financial platforms and brokerages. This will make the platform even more accessible to investors worldwide.

For those seeking to save time, reduce information overload, and enhance their investment decision-making, StockNews.AI offers a game-changing solution. By leveraging AI to quickly and accurately analyze financial content, the platform delivers relevant, actionable insights precisely when they are needed.

Media Contact

Organization: StockNews.AI

Contact Person: Dan Chen

Website: https://stocknews.ai/

Email: Send Email

Country: United States

Release Id: 18102418289

The post StockNews.AI Secures Strategic Investment from Jason Calacanis’s Launch Fund appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

GRIT Project Unveils Revolutionary De-Fi Ecosystem for Maximum Profitability

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The GRIT Project, an innovative leader in financial technology and blockchain, proudly announces its latest advancements aimed at maximizing community benefits through the synergy of perseverance and passion. With a comprehensive decentralized finance (De-Fi) ecosystem, GRIT is poised to transform how users engage with digital assets and financial services.

Empowering Users with De-Fi Opportunities

At the core of the GRIT Project lies a commitment to providing exceptional De-Fi opportunities. The platform offers a range of financial services that are both decentralized and highly rewarding for participants. Through staking, yield farming, and liquidity mining, GRIT ensures that every user has access to lucrative financial tools that drive engagement and growth within the ecosystem. The daily return on investment (ROI) ranges from 1.0% to 2.2%, depending on the level of accumulation staking achieved by users.

Introducing G-TOKEN: The Backbone of GRIT

Central to the GRIT ecosystem is the G-TOKEN, a versatile digital asset that facilitates transactions and rewards within the platform. G-TOKEN holders benefit from exclusive access to various financial products and services, including reduced transaction fees, enhanced staking rewards, and voting rights on key governance decisions. The tokenomics model ensures that the value of G-TOKEN is intrinsically linked to the success and expansion of the GRIT ecosystem. The initial supply of G-TOKEN is capped at 100 million tokens, with a starting price of $0.01 per token.

Community-Centric Approach

The GRIT Project prides itself on its community-centric approach. By actively involving users in governance and decision-making processes, GRIT fosters a sense of ownership and participation among its members. Regular community events, competitions, and reward programs further incentivize engagement and loyalty, creating a vibrant and dynamic ecosystem. The project’s roadmap includes significant milestones such as the soft opening in July 2024 and a grand opening event in Dubai in November 2024.

Security and Transparency

In an industry where security and transparency are paramount, the GRIT Project stands out with its rigorous security protocols and commitment to transparency. All transactions within the ecosystem are secured by cutting-edge blockchain technology, ensuring that user assets are protected against potential threats. Additionally, GRIT maintains full transparency by providing regular updates and detailed reports on platform performance and developments.

Join the GRIT Revolution

As the GRIT Project continues to innovate and expand, it invites crypto enthusiasts, investors, and De-Fi users to join its revolutionary journey. By participating in the GRIT ecosystem, users can unlock new financial opportunities, contribute to the growth of a robust community, and enjoy the benefits of a secure and transparent De-Fi platform. Join now to be part of this groundbreaking initiative.

For more information about the GRIT Project and to join the community, visit https://www.GRITDeFi.com

Facebook: https://www.facebook.com/GRITEnterprise
Telegram: https://t.me/GRITEnterprise
(X) Twitter: https://x.com/GritEnterprise
Youtube: https://m.youtube.com/@GRITDeFi

Media Contact

Organization: GRIT Enterprise

Contact Person: Alex

Website: https://app.gritdefi.com/home

Email: Send Email

Contact Number: +971581498856

Country: United Arab Emirates

Release Id: 18102412915

The post GRIT Project Unveils Revolutionary De-Fi Ecosystem for Maximum Profitability appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

A New Era of Sustainable Energy Trading Led by Solar photovoltaic SPUSDT

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As global efforts to combat climate change intensify, the adoption of clean energy has become a central goal in national energy policies. Against this backdrop, the emergence of blockchain technology has brought unprecedented changes to the energy trading market, particularly in the renewable energy sector. Blockchain’s decentralized, transparent, and secure nature has significantly advanced the development of this market. The SPUSDT platform leverages the combination of blockchain technology and the USDT stablecoin to usher in a new era of sustainable energy trading.

In recent years, blockchain technology has gradually expanded from the financial sector into other industries, with the energy sector benefiting greatly. Traditional energy markets often rely on centralized trading models, where power producers and consumers must transact through intermediaries, which increases costs and reduces efficiency. Blockchain technology simplifies or eliminates these intermediaries through decentralized distributed ledgers, empowering market participants to engage in peer-to-peer transactions. In this context, the launch of the SPUSDT platform represents a deep integration of blockchain and energy, bringing innovative solutions to the renewable energy market.

How Blockchain Transforms Renewable Energy Trading

The most significant change blockchain brings to renewable energy trading is its transparency and immutability. Through blockchain technology, the SPUSDT platform ensures that all energy transactions are recorded on-chain, and this data is publicly transparent, allowing any user to review transaction records. This transparency not only enhances trust in the market but also reduces fraudulent activities. In traditional energy trading, information asymmetry has long plagued the market, with trust issues between producers and consumers leading to inefficient transactions. With blockchain, SPUSDT guarantees that all transaction information is made public, safeguarding the interests of all parties involved.

In addition to transparency, blockchain’s decentralized nature opens up new possibilities for the renewable energy market. Traditional power markets are dominated by large power companies, with complex and costly trading processes. For small and medium-sized energy producers, especially households and small businesses that install solar panels, entering the market has been challenging. However, through the SPUSDT platform, blockchain’s decentralized architecture enables any energy producer to easily access the market and directly connect with consumers. Whether it’s household users selling excess solar power or businesses purchasing clean energy, SPUSDT provides a convenient and efficient trading channel. This decentralized trading model not only lowers transaction costs but also increases market liquidity and participation.

Smart Contracts Enable Automated Trading

Another major advantage of blockchain is the application of smart contract technology, which ensures the automation of energy trading. In traditional energy transactions, the process is often cumbersome, involving multiple parties in negotiations, contract signing, payment, and settlement. Through the SPUSDT platform, smart contracts automatically execute the trading process. Once the conditions of a transaction are met, the smart contract finalizes the settlement without human intervention. For example, when a solar energy producer sells electricity through the SPUSDT platform, the smart contract automatically adjusts the transaction price based on real-time electricity generation and preset conditions, and releases the payment as soon as the electricity is delivered. This automated process reduces transaction complexity and improves security and efficiency.

The application of smart contracts also eliminates trust issues in transactions. By relying on pre-programmed smart contracts, both parties can trust the blockchain code to execute the transaction, reducing the risk of human manipulation. For instance, if the energy producer fails to deliver the agreed-upon electricity on time, the smart contract automatically adjusts the transaction outcome, ensuring the consumer’s rights are protected. This trustless mechanism significantly enhances transaction security, reduces the risk of default, and attracts more market participants.

Blockchain Technology Promotes Traceability in Energy Markets

Traceability is another key issue in energy markets, especially in renewable energy trading, where verifying the origin of energy is a priority for many businesses and consumers. Through the SPUSDT platform, blockchain technology provides an ideal solution for tracking renewable energy. Every energy transaction is recorded on the blockchain, from production to final consumption, making it fully traceable. This transparent record system allows consumers to confirm whether the electricity they purchase comes from renewable sources, helping them make more environmentally conscious choices. For companies with carbon neutrality goals, this traceability is particularly important, providing reliable evidence that verifies their use of clean energy and enhancing their environmental, social, and governance (ESG) performance.

At the same time, blockchain traceability provides additional assurance for regulation and compliance in energy markets. In traditional energy markets, data is often fragmented and difficult to access, making it challenging for regulators to monitor real-time market activities, which can lead to non-compliance issues. Through blockchain technology, all transaction data on the SPUSDT platform can be monitored in real time, ensuring market transparency. This transparency not only improves compliance but also provides regulators with effective tools for market oversight, ensuring the legality and fairness of energy trading.

Blockchain technology is rapidly transforming the global energy market, particularly in the renewable energy sector. Decentralization, transparency, automation, and traceability—core features of blockchain—are critical to the widespread adoption and development of renewable energy. The SPUSDT platform leverages these technological advantages to lead the global sustainable energy trading revolution. By combining blockchain with the USDT stablecoin, SPUSDT not only provides a high-efficiency, secure, and transparent environment for solar energy trading but also drives the decentralization and democratization of energy markets. As blockchain technology continues to evolve and energy markets undergo further reforms, the SPUSDT platform is poised to become a central force in advancing global renewable energy, contributing to the green transformation of the world’s energy markets.

Contact name: Saif

Company name: HRG

Website https: https://hrginvestment.com/

Country: UAE

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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