Proud track record spans four decades

One of our country’s greatest homegrown private sector success stories started in 1982, when a group of local entrepreneurs embarked on the daring initiative of creating a financially independent bank for Namibians in Namibia.The group, led by business veteran Koos Brandt, took over eight local branches of South African-owned Volkskas Bank and established Bank Windhoek with a capital base of N$2.6 million. Today, 40 years later, the Bank Windhoek group is a giant in Namibia’s financial landscape, boasting a capital base of more than N$6 billion.In its 2022 financial year, it had 1 539 permanent employees, 54 branches throughout Namibia and 150 ATMs. Bank Windhoek contributed 67% of the profit after tax of its locally-listed parent company, Capricorn Group, with interests in banking, insurance, asset management, investments and microfinance.ICONIC "As we celebrate 40 years of banking excellence, we look back on Bank Windhoek’s history and achievements and remain mindful of its humble beginnings and the foundation on which the bank was built, " Capricorn chairperson Gerhard Fourie says in the group’s Integrated Annual Report (IAR) 2022.Outgoing chairperson Johan Swanepoel, who has been part of the group’s journey since 1999, describes his Bank Windhoek and Capricorn family as "an incredibly loyal, committed and talented brand of people who deserve the credit for the group’s successful evolution ". He acknowledges the board for "their visionary and strategic thinking, a deep understanding of risk and a strong sense of accountability in setting the right tone regarding governance and ethics ".Fourie attributes Bank Windhoek’s success to the visionary leadership and business acumen of founder Koos Brandt, as well as to Namibians’ loyalty to a homegrown, iconic brand.Bank Windhoek was always prudently managed, providing a solid foundation for consistent growth. Fourie says the bank was fortunate not to suffer a significant setback in its early years, adding: "The bank has always been known for its strong client relationships and resilience in widely diverging economic environments. "Bank Windhoek’s distinguished history is illustrated in detail on page 4 of this publication.PIONEERBank Windhoek is a sustainability pioneer: its green bond debuted on the Namibian Stock Exchange (NSX) in 2020 and launched its sustainability bond in 2021. Both these bonds were not just firsts in Namibia, but in Southern Africa too.Both bonds have received awards and positioned Bank Windhoek as a leader in sustainability finance.Bank Windhoek’s green bond has raised a total of N$407 million of additional funding to finance renewable energy projects in the country.In June last year, the National Association of Securities Dealers Automated Quotations (Nasdaq) in the United States of America welcomed Bank Windhoek as a member of its Sustainable Bond Network. The Nasdaq is the second biggest stock exchange in the world by market capitalisation of shares traded, behind the New York Stock Exchange (NYSE).In August 2021, Bank Windhoek assessed its current and future focus areas in the sustainability domain and formulated an environmental, social and governance (ESG) roadmap, which was approved by the bank’s board.The next step is to incorporate the ESG strategic priorities into the bank’s strategy and translate these into tangible business decisions.Bank Windhoek was invited last year to join the Namibian delegation at the United Nations (UN) Climate Change Conference (COP26) in Scotland in the United Kingdom (UK). It also sent a delegation to the recent COP27 in Sharm El-Sheikh, Egypt.This provided an invaluable chance to build networks in the sustainability space and gain a deeper understanding of climate change’s risks and opportunities.ACCESSIBLE BANKINGBank Windhoek has a strong track record of making banking more accessible in remote areas of Namibia through its extensive branch network. This network includes branches, specialist branches, agencies, an ATM footprint, and Cash Express ATMs installed at merchants countrywide, with 38 of these ATMs accepting cash deposits.The bank’s products and services cover many customer needs across the personal, corporate and small and medium enterprise (SME) market segments. Its offering includes transactional, investment and lending products, as well as digital and electronic banking services.Bank Windhoek’s financial solutions for business clients include structured finance, working capital finance and tailor-made term financing options.Its range of treasury services includes money market and foreign currency exchange services, while its international banking services comprise foreign payment products, trade finance and foreign currency accounts.Bank Windhoek’s private banking offering is provided through Capricorn Private Wealth, a joint venture between Bank Windhoek and Capricorn Asset Management. Capricorn Private Wealth caters to the affluent market’s banking, wealth, insurance and investment needs.Its bancassurance options include short-term, life, travel and commercial insurance and guarantees.Bank Windhoek focuses on selected segments, products and sectors that offer sustainable growth and profit potential.This year, the bank grew new to bank clients across corporate, business banking, Select Platinum, Select Gold, Namibian Students Financial Assistance Fund and Capricorn Private Wealth.The bank also grew its government finance portfolio exponentially, commercialised several new banking solutions and increased forex and trade products revenue. The bank continued to upsell specialised finance and bancassurance products.

Proud track record spans four decades

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Namibian Sun 2025-04-04

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Proud track record spans four decades

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Namibian Sun 2025-04-04

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