Prioritising the well-being of stakeholders

Capricorn Group Limited, a proudly Namibian financial services group listed on the Namibian Stock Exchange with diversified operations and business interests in Namibia and Botswana, released its annual social value report this week.



This follows the release of the group’s integrated annual report and annual financial results on 14 September.



“Capricorn Group is a responsible corporate citizen with a strong sense of accountability to our stakeholders. The group is proud of its contributions to society in pursuit of its purpose of being ‘connectors of positive change’ and strive to be open, transparent and accountable in reporting our corporate social responsibility [CSR] programmes and their impact,” the group said in a statement.



For the period ending 30 June, Capricorn Group and its subsidiaries in Namibia and Botswana invested N$15.4 million - an increase of 26.9% - in CSR initiatives. This represents 1.3% of the group’s profit after tax, which is in line with its CSR policy guideline of 1% of profit after tax.



“The first standalone social value report of the Capricorn Group reflects our approach to CSR and outlines the activities of the group, as well as the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo and Bank Gaborone,” Marlize Horn, the group’s executive of brand and corporate affairs and the executive officer of the Capricorn Foundation, said.



Positive change



Horn said Bank Windhoek is the flagship brand of Capricorn Group and has a strong legacy of being a responsible corporate citizen. Bank Windhoek established its Social Investment Fund in 2001 and has over the years been recognised as a leader in corporate social responsibility.



Notably, the Bank Windhoek Cancer Apple Project is one of its success stories, being one of Namibia’s longest and most successful fundraising projects.



The project has raised more than N$31 million to date for the Cancer Association of Namibia. In 2020 the group decided to centralize its CSR efforts and established the Capricorn Foundation with Bank Windhoek as its main financial contributor – continuing with its commitment to society through the Capricorn Foundation as well as its own initiatives such as the Bank Windhoek Cancer Apple Project.



“As a responsible corporate citizen, the group’s CSR vision is aligned to its purpose: To be an inspiring ‘connector of positive change’ by creating economic value in a responsible way that creates sustainable opportunities for advancing and improving economic and social conditions in the communities in which the group operates.



“For the group, CSR means doing the right thing for the right reasons,” Horn added.



She emphasised that as the nation recovers from Covid-19, CSR investment is more important than ever, and there is a real desire to improve communities.



“Even if there is still much that can be done to address societal issues, every step made brings us that much closer to a better tomorrow for everybody,” she said.



The Capricorn Foundation was established in February 2020 and became a legally recognized non-profit organisation, which had a substantial positive impact on the strategic focus and results of the group's CSR investments.



“Over the past two years, the foundation has positioned itself as a thought leader in CSR with a portfolio of 16 impactful projects operating across Namibia. Furthermore, Capricorn Group’s employee volunteer programme, the #ChangeMaker programme, adds substantial value to our CSR initiatives.

“Enabling our employees to volunteer their productive time to support communities builds pride in our brand, enhances employee engagement and connects our employees to our purpose,” Horn said.