Trust administration and management are global practices essential for wealth planning and asset protection. While Namibia may be lesser-known, compared to established jurisdictions like Jersey and Guernsey, it is quickly emerging as a key player in this space, offering a robust regulatory environment. These well-known offshore financial centres are renowned for their strong legal frameworks, offering flexibility, privacy, and asset protection. Investors often choose these jurisdictions for their stable, transparent systems and global recognition, making them prime choices for high-net-worth individuals seeking comprehensive wealth protection.
Namibia, though different in scale, shares many of these benefits. Bravura recognised early the growing demand for trust administration services. Initially established to manage internal structures, Bravura Administration Services (BAS) quickly identified a need in the market to assist clients with personal trust administration, especially following new regulations. These regulatory updates introduced hefty penalties for non-compliance, making it essential for clients to have a reputable partner to ensure that trusts remained compliant. Bravura, with its long-standing relationships and vast network, stepped in to help clients navigate these complexities and achieve the same high standards of administration, meeting international criteria.
The Namibian economy further supports this burgeoning demand for wealth management. According to the African Development Bank, Namibia’s projected GDP growth is 3.8% in 2024 and 4.2% in 2025. This steady growth, driven by Namibia’s ties to the Southern African Development Community (SADC) and its expanding energy sector, creates fertile ground for long-term wealth management strategies, including trusts. Establishing a trust in Namibia allows individuals to safeguard their assets, minimise tax exposure, and ensure a seamless transfer of wealth across generations.
Bravura’s Namibian office is a team of nine, led by Willem Bodenstein. Today, BAS administers more than 100 trusts and companies, managing a growing portfolio of client assets. The company has fostered strategic partnerships with leading law and audit firms in Namibia, combined with the knowledge, networks and resources that Bravura’s South African office can tap into. This allows BAS to remain up-to-date with all relevant laws and regulations, while providing access to top talent and skills. This symbiosis results in access to leading industry experts, and ensures that clients receive world-class service and the confidence that their trusts are compliant with the latest regulations.
We are able to leverage cutting-edge technology and real-time dashboards to ensure compliance and efficiency, and it’s been rewarding to see the systems we’ve invested in deliver such positive results for both BAS and our clients. Our Corporate and Trust division recently underwent a Financial Intelligence Centre (FIC) audit, and the outcome was extremely positive.
As BAS continues to grow and serve its clients, its ability to collaborate with top investment managers, while maintaining independent oversight, ensures that trusts and corporate structures are managed to the highest standards. For investors seeking both stability and opportunity, a trusted fiduciary service provider is essential to navigate the local and global requirements for safeguarding assets and preserving wealth for future generations.
Willem Bodenstein is Head and Nicola Van Rooyen is Corporate and Trust Manager | Bravura Namibia
This article first appeared in DealMakers AFRICA, the continent’s quarterly M&A publication.
DealMakers AFRICA is a quarterly M&A publication
www.dealmakersafrica.com
