Net asset value per share
Profit from continuing operations
Dividend per share
Return on equity
Return on equity from continuing operations
Capital adequacy ratio
Capricorn Group Limited’s short-term Namibian national scale rating has been affirmed at
Namibian national scale rating has been revised to AA-(NA), from AA(NA), solely as a result
criteria change, which reflects structural subordination in the ratings of non-operating
companies. The outlook is stable.
Bank Windhoek Limited’s long- and short-term Namibian national scale ratings have been
affirmed at AA(NA)/
A1+(NA), with a stable outlook.
Capricorn Group is well positioned to weather the COVID-19 storm
due to its strong capital and
liquidity position, diversified operations, deep local knowledge and strong relationships in the
where it operates. The Group’s resilience has been illustrated by its results from continued
which compare very favourably with financial institutions across southern Africa.
The Group will not be exempt from COVID-19 fallout
, with Bank Windhoek being the most impacted by
significant interest cuts experienced in Namibia. This resulted in margin compression and an
increase in impairments as more clients experience a deterioration in their financial position.
remaining subsidiaries do not anticipate the same impact and could offset some of the negative
We take decisive action to address areas of underperformance
: we agreed the sale of our loss-making
operations in Zambia to Nigeria-based Access Bank Group, subject to the conditions precedent. We
restructured Capricorn Capital and believe that it will positively contribute to the Group’s
We have a steady record of new product and service launches. We continue to explore
sectors to grow beyond our interests in banking, asset management, insurance and finance.
Our key focus remains customers and their needs
. We are investing in digital offerings and channels
without compromising the personal touch and customer intimacy for which we are known.
We are growing scale and have a solid reputation.
Bank Windhoek, the Group’s flagship brand, is the largest locally owned bank and the
commercial bank in Namibia. It was also the first commercial bank in southern Africa to
issue a green
Capricorn Asset Management (CAM) is a fully-fledged asset manager offering a wide range
products across the risk spectrum to retail and institutional investors alike. CAM is
asset managers in Namibia with more than N$30 billion of assets under management.
Capricorn Unit Trust Management Company Ltd (“CUTM”), administered by Capricorn Asset
Ltd (“CAM”), has been the market leader in Namibia since 2004 in terms of assets under
management in the
unit trust sphere.
Gaborone is on a growth trajectory in Botswana with a proven capability to regularly
and services leading to significant new customer growth. The bank has increased its
7.0% to 7.5% over the last year.
Entrepo Holdings (Pty) Ltd (“Entrepo”) is expanding in the government employee market
through a highly
efficient, distinct and competitive capability to approve and disburse loans, and to
Paratus Group has a presence in six African countries and deliver services to more than
We are widely recognised for our lasting contributions to communities through
responsibility initiatives and significant support for COVID-19 initiatives this year.
We are stable, reliable and well capitalised.
Capricorn Group has two shareholders of reference
– the Government Institutions Pension Fund (“GIPF”), the largest institutional investor
and CIH, the founding holding company of Bank Windhoek. They ensure stability, liquidity
to capital. CGR Ratings recognised the Group’s strong competitive position, given the
diversification in terms of business lines and to a lesser extent geography, a strong
intermediate levels of capitalisation supported by good earnings, and funding and
that is in line with peers.
We have a strong ethical culture, entrepreneurial spirit and commitment to transparency.
decision-making is demonstrated by the board and entrenched by governance structures and
We have zero tolerance for unethical behaviour and for non-compliance with any regulations or
legislation in the jurisdictions where we
Our future growth opportunity is in the convergence of data, financial services and
which we can deliver on a regional basis through specialist competencies,
relationships and positive connections.