WINDHOEK, NAMIBIA – Since its inception on 21 August 1992, Trustco Group Holdings has had people from all walks of life contribute to its continued success. One such individual, who quickly became a cornerstone of the group, is Group Financial Director, Floors Abrahams. With a career at Trustco spanning 21 years, Floors played and is still playing a pivotal role in the Trustco success story, from the very early days of the group.
After completing his articles in 1999, Floors Abrahams arrived as a youngster at Trustco for the first time on 1 December 2000, not suspecting that he was embarking on a journey that would eventually lead to his lifelong career and purpose. Initially, Floors took charge of the Financial Management function of the group, but as the group expanded, he rose to each new presented challenge that expansion and innovation inevitably brings.
Abrahams understands the group’s delicate intricacies, culture and its history from humble beginnings, to becoming one of Namibia’s all time success stories. In a high pressure environment, Floors sees it as his duty to ensure that the group maintains its immaculate standard in directing financial planning and strategy for the group and is the guiding light in leading the group on the path of international financial best practices.
“As much as it is a delicate procedure, I see the ongoing analysis of and reporting on financial performance as key to the success of Trustco.’’ he says. The oversight of both audit and tax functions also form part of his many responsibilities. “My greatest challenge over all my years at Trustco has been the development and implementation of strong accounting policies as the group’s growth simply accelerated,” Abrahams says.
He recalls the Legal Shield brand as the original Trustco product that catapulted the group into its initial growth spurt, long before the business diversified into its two main segments, Financial Services and Resources.
“Back then, everyone was involved from the ground-level up. Even Group CEO Dr Quinton van Rooyen and I dived head first, bare knuckled, into selling those initial insurance policies. Thus, every Friday afternoon we would celebrate making weekly targets in true Trustco fashion with a braai (barbecue). At Trustco we understand the phrase to ‘work hard and play hard’ very well!” Floors says with a chuckle.”
Floors, the ever quiet, unassuming individual that he is, notes that he’d be hard-pressed to point out any particular period in his long spanning career that would stand out. According to him, “It is very difficult to point out one specific moment; the Trustco book of life has many chapters. “Our listing on the Namibia Stock Exchange (NSX) in 2006 was truly special and launched us into the South African market in 2009 when we listed on the Johannesburg Stock Exchange (JSE). Another milestone for us as a group definitely was when we became the first Namibian company to qualify to have its American Depository Receipts (ADRs) trade on the OTCQX Best Market on the 26th August 2019. They all represent significant stepping stones to our growth amongst our peers as a proudly Namibian company.”
This dedicated family man enjoys quiet weekends with his wife and two sons on his other favourite pastime and passion, farming. With the good rains that Namibia has received thus far for 2021, Floors remains excited to jump into his ‘bakkie’ for a trip to the farm every chance he gets. Wearing his badge of Trustco honour with pride, Floors knows that with every mountain successfully climbed, there is another waiting to be tackled for the group. He’ll be right there, ready to take on the challenge.