Trustco Holdings intends to consult widely before making any financial commitment to the just-launched Olufuko Festival at Outapi town in Omusati region.
Olufuko Festival is an initiative of the Outapi Town Council that aims to revive the initiation of young girls into womanhood through traditional and cultural practices (rituals).

Speaking on behalf of Trustco Managing Director, Quinton Van Rooyen, the company’s Head of Corporate Affairs, Vezera Bob Kandetu, commended the event as a very important and ground-breaking initiative, deeply rooted in vision and foresight.
“We in Trustco believe that Namibia’s most competitive advantage is our skilled workforce, as it is only when our small population has skills in abundance that we can compete favourably in the southern African region and in the world, banking on our capacity to engineer development. To this end, Trustco will not be found wanting and that is why we look forward to this initiative, that we hope shall rub off onto the other towns, cities and regions of our nation,” Kandetu told the audience at a gala dinner on 16 June.
Kandetu expressed Trustco’s utmost support for the Olufuko Festival, which is expected to lead to the realisation of the project. From the look of things, as presented by  the contracted consultant, Pakkie Pakalaye of Pamwe Group of Companies, Olufuko Festival would be something bigger, more interesting and long-lasting than just a once-off event. It will include activities such as art, agriculture, education and training, commercial, tradition and culture.
At least N$2.2 million is needed to put up infrastructure, of which N$800 000 is needed to fund the envisaged event from August 21-27. To be located at Extension 11 of Outapi Town, Olufuko Festival site would cover a land area of 17.15 hectares and will also include a University, to be funded by Italian partners.
“Olufuko Festival aims to educate, entertain, appreciate, enhance and foster cultural and traditional identity and values to be spiced up with economic promotion through tourism and other means,”said Pakalaye.
The Olufuko Festival was to be launched by its patron, Dr. Sam Nujoma, but due to unforeseen circumstances, he delegated the Governor of the Omusati region, Sophia Shaningwa, to read a speech on his behalf. He said a nation without culture and tradition is like a tree without roots, hence the need to promote and preserve the cultural values and heritage of the Namibian people. Dr. Nujoma donated N$5 000, which was used to open the FNB account of Olufuko Festival. The Governor donated N$6 000. About N$400 000 was pledged and collected during the gala dinner with BH Group of companies being the highest contributor with about N$40 000. Among those who attended were the Deputy Minister of Veterans Affairs, Hilma Nikanor, local and regional councilors, traditional and church leaders, as well as a large contingent of the business community from in and around Omusati region.