Transactions - we facilitate payments

Loans, credit and deposits - we provide credit, loans and savings or investment products

Asset management – we invest and manage assets on behalf of customers

Advisory– we provide investment banking and advisory services

Bancassurance– we provide short and long-term insurance products

Foreign exchange and trade finance - we provide currency access to global markets



Specialised finance

Foreign exchange and trade finance


Wealth management

Asset management

Unit trust management


Property development and evaluation



Customer waiting time

Losses due to internal errors


We have a dynamic business model to create and preserve value while remaining true to our purpose




We have long-standing and new customers across all segments in Namibia and Botswana

We have long-standing and new customers across all segments in Namibia and Botswana

Customer loyalty: Bank Windhoek​ is the largest locally owned bank and the second largest commercial bank in Namibia

Bank Windhoek has a 34.8% market share and Bank Gaborone a 7.5% market share in loans and advances

The Foundation and Changemaker initiatives contribute to communities in need

The Capricorn brand is recognised and respected in the region

  • We maintained our social and relationship capital investment through the Foundation to support stakeholders in need
  • Developing a comprehensive sustainability strategy to align sustainability initiatives across the Group is a priority in the short term


More people are banking and insured

We make positive community impacts through the Foundation and Changemaker platform

The number of transactions increased

Our Net Promoter Score remained at 39%

Bank Windhoek​ received more awards

  • A wider variety of products and services will be linked to the Capricorn Group brand and underlying entities
  • Products and services will be simplified and easy to access
  • Less waiting time for clients and better customer experiences
  • Less waiting time for clients and better customer experiences
  • New clients in new markets/segments
  • New partnerships across banking and digital
  • Shifts in priorities and CSR based on stakeholder feedback and responses




1,994 permanent employees

N$7.6 million training investment to upskill employees

Digital academy launched to improve our employees’ digital skillsets

  • Digital and data skills will be difficult to fill and expensive in the short to medium term


Employee turnover annualised at 7.07%

Absenteeism at 4.96%

Mirror survey results from 91% participation rate, engagement score of 86% and fully engaged 49%

35,564 employees received training

  • Higher skills levels in data and digital
  • One team culture across subsidiaries
  • More diversified, inclusive and equity-representative teams
  • Improved workplace and employee satisfaction based on the Mirror survey, brand, communication audits and ethics survey




Over 230 years’ collective board member experience

We have a Risk Culture and 14 principal risks, each with a risk owner

We drive ethics awareness and behaviour through the Group Code of Ethics and Conduct Policy, The Capricorn Way and Suppliers Code of Conduct

We are making progress with our #gobeyond digital transformation programme

  • We are investing in #gobeyond
  • We are increasing our investment in cyber resilience over the short term


New capabilities launched via bank and MyCapricorn apps

Non-performing loans mitigated through effective and proactive processes

Limited losses due to financial crime

  • More client data will be available for analysis and insights
  • The #gobeyond programme will create a bank for the future




Retained income of N$6.5 billion (2021: N$5.7 billion)

Total assets of N$60.4 billion

Total loans and advances of N$43.2 billion

Total deposits of N$43.6 billion

CAM AUM of N$32.1 billion

  • Liquidity and funding in Namibia and Botswana will be constrained in the short to medium term, limiting the capital available for investment in growth projects


Value created for all stakeholders (see value added statement) and dividends paid

Cost-to-income ratio down to 51.1%

Return on equity of 15.0% (2021: 13.5%)

Capricorn Group remains well capitalised with profit after tax increasing by 16.6%

Business development plans are progressing

  • More diversified income streams with less exposure to interest rates
  • Scale achieved in Botswana will have a positive cost impact based on transaction volumes
  • Strong growth from new ventures making a material contribution to operating profit
  • Available and optimised capital and funding




66 banking branches/agencies, 171 ATMs, (including NCR Self-service ATMS), 5,287 merchants and 5,480 POS devices

24-hour customer contact centre

IT systems and business continuity facilities

Digital banking, apps and other platforms

  • We plan to modernise our branches to create a ‘branch of the future’ network over the medium to long term


Capricorn Group’s footprint increased

Lower levels of cash in branches as more customers use digital banking

  • Expanded digital footprint and capabilities
  • Scalable digital offerings/platforms




Environmental and Social Management System

Water, energy and paper

  • Climate impacts from physical and transition risks and infrastructure quality might become a business constraint in the medium to long term
  • When we invest in a new building or renovate and existing one, we aim to improve our energy and water efficiencies. Our new building, Capricorn Corner, utilises green technologies to reduce our environmental footprint
  • Bank Windhoek’s green bond positioned the bank as leader in sustainability finance. This is a potential growth area over the short, medium and long term


The Green Bond was fully allocated and matured last year

We currently have funding from our sustainability bond which was issued June 2021. Up to June 2022 we raised N$407 million in two tranches and made allocations to renewable (Solar photovoltaic) energy projects of N$124 million and SME financing of N$315,000

We are yet to finance a sustainable agriculture project

  • Operational efficiency will optimise resource use
  • Bank Windhoek will remain a leader in sustainable financing