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    CGP   NA000A1T6SV9


End-of-day quote NAMIBIAN STOCK EXCHANGE  -  2022-12-01
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09/26Capricorn : 2022 Capricorn Group Social Value Report
09/19Capricorn Group Limited Reports Earnings Results for the Full Year Ended June 30, 2022
09/19Capricorn Group Limited Reports Earnings Results for the Full Year Ended June 30, 2022
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Capricorn : 2022 Capricorn Group Social Value Report

09/26/2022 | 09:15am EST






Table of contents

Our first Social Value report

















Capricorn Group is a responsible corporate citizen with a strong sense of accountability to our stakeholders. We are proud of our contributions to society in pursuit of our purpose of being Connectors of Positive Change.

This is the first standalone Social Value report ("the report") of Capricorn Group Ltd ("the Group" or "Capricorn Group"). It reflects our approach to corporate social responsibility ("CSR"), which refers to a company's practices and policies to create a better world.

In this report, we describe the work of the Capricorn Foundation ("the Foundation") and the CSR activities within the Group, including those of our subsidiaries in Namibia and Botswana. The entities that constitute the Group are set out in Capricorn Group's integrated annual report, which is available online.

The report covers the financial year 1 July 2021 to 30 June 2022. In terms of our business model, CSR relates to our social and relationship capital, as well as to natural capital. Our CSR activities correspond with the Group's material matter of "making a positive impact in society". We strive to be open, transparent and accountable in reporting on our CSR programmes and their impact.

Approval of this report

This report was compiled with input from the Group and Foundation's management teams. The content was reviewed by the Foundation board and the Group board sustainability and ethics committee ("BSEC"). The Foundation board and the BSEC acknowledge their responsibility to ensure the report's integrity, and members applied their collective minds during the preparation and final approval of the report. Detail of the Foundation board members is set out on pages 14 and 15 of this report, while membership of the BSEC is laid out in the Governance report, available online.

Additional information about our CSR activities can be found at www.capricorn.com.na.

For more information or feedback on this report, contact the Foundation's executive officer, Marlize Horn, at marlize.horn@capricorn.com.na or +264 (61) 299 1226.




About Capricorn Group

Capricorn Group is a Namibian-owned financial services group listed on the Namibia Stock Exchange ("NSX"). We have two banking subsidiaries in Namibia and Botswana (Bank Windhoek and Bank Gaborone), with other subsidiaries, such as Capricorn Asset Management and Entrepo, as well as associates, providing complementary financial products and services. Although each entity has its own CSR initiatives, the Capricorn Foundation is the Group's main vehicle for making a positive impact in the communities in which we operate.




Alignment to frameworks

We pursue our commitments to society in alignment with relevant national and international frameworks, the most pertinent of which are mentioned below.

Harambee Prosperity Plan II

In March 2021, the Namibian government unveiled the Harambee Prosperity Plan II for 2021 to 2025, building on the foundation of the inaugural plan for 2016 to 2020.

The plan aims to address Namibia's most pressing challenges through initiatives under five pillars:

Capricorn Group's approach to CSR

The Group CSR Policy governs decisions and actions applicable to the Capricorn Foundation and all other CSR initiatives within the Capricorn Group and its subsidiaries. It outlines the Group's CSR vision, philosophy, principles and social investment areas, and provides a framework for the management of all CSR activities throughout the Group to ensure proper administration of funding and to put our CSR funding to optimal use.

The Group invests in a range of social and community-based projects that aim to make a sustainable difference in the lives of the beneficiaries. All the subsidiaries in the Group must consider the following aspects when selecting CSR activities to support:

  • The Group's CSR vision
  • Country-specificnational development plans
  • Relevant financial sector strategy and charters
  • Community needs
  • National emergencies, such as a pandemic
  • Compatibility with the Group's purpose, brand values, CSR philosophy and ethical standards

Our CSR vision

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.

Our definition of CSR

For Capricorn Group and its subsidiaries, CSR refers to our sense of responsibility towards our communities and commitment to integrating social concerns into our business operations. This sense of responsibility helps us to be socially accountable to ourselves and our stakeholders and to minimise any negative effects on society, so that we make an overall positive impact.

Our CSR philosophy

The Group sees itself as an integral part of the broader society, with responsibilities and obligations to the communities and regions in which it operates.

We need successful communities to create demand for our products and provide a suitable environment for us to operate sustainably. At the same time, communities depend on Capricorn Group's success, which enables us to create and preserve value for all our stakeholders. This enhances our competitiveness while advancing and improving our communities' economic and social conditions.

As a Group, we aim to make a deep and lasting impact in areas that are aligned with our strengths and areas of competence. The Group's approach to being a responsible local, regional and global citizen is built into the DNA of all its businesses in Namibia and Botswana and is supported through its aim to be open, transparent and accountable in its reporting on the Capricorn Foundation and Group CSR activities and programmes and their impact.





International Relations




and Cooperation

The Group and the Foundation support the plan through our ethics initiatives, governance structures, commercial offerings and growth plans, community investment, renewable infrastructure and sustainable financing.

In our CSR activities, we focus on the Social Progression pillar, which takes a people-centred approach to development to ensure improved quality of life for all Namibians, especially the most vulnerable members of our society. This pillar's desired outcome is providing the basic amenities for a dignified life, social mobility and human development. This outcome is pursued through five goals:

  • Arresting hunger poverty
  • Urban land, housing and sanitation delivery
  • Improved access to healthcare
  • Improved access to quality education and sports
  • Arresting gender-based violence ("GBV") and violence against children

United Nations Sustainable Development Goals

In 2015, all 193 United Nations ("UN") member states, including Namibia, adopted a plan to achieve a better future by 2030. This laid out a path over the next 15 years to end extreme poverty, fight inequality and injustice, and protect our planet. At the heart of this plan are the 17 Sustainable Development Goals ("SDGs"), which clearly define the world we want, applying to all nations and leaving no one behind. The Group prioritised the following six SDGs in our CSR Policy:

In addition to these six SDG's, the Capricorn Foundation also supports and contributes to these two SDG's:

For us, corporate social responsibility means doing the right thing, for the right reasons."

- Gerhard Fourie, chairperson

United Nations Global Compact

Capricorn Group is a signatory to the UN Global Compact ("UNGC"). This is a voluntary initiative based on chief executive officers' commitments to implement sustainability principles in their businesses. More detail about our actions to uphold the 10 principles of the UNGC can be found in our 2022 integrated annual report online.




Leadership messages




Message from the chairperson

Through our work in the communities of Namibia and Botswana, we give expression to the Group's purpose of being Connectors of Positive Change and respond to our material matter of making a positive impact in society.

The Capricorn Group aspires to be accountable to our stakeholders and to positively impact society."

I am proud to present Capricorn Group's first Social Value report, in which we share many of our CSR stories to encourage and inspire, but also to promote transparency and accountability.

This report explains how the Group, its subsidiary companies and the Capricorn Foundation improve economic and social conditions in the communities in which we operate. At the same time, we believe that CSR, if done for the right reasons and in the right way, contributes to loyalty and goodwill from stakeholders, including customers and employees. CSR has, therefore, become a strategic imperative for the Group's future growth and sustainability.

As we emerge from the COVID-19 pandemic, our nations need CSR investments more than ever. Both Namibia and Botswana, to varying degrees, face the triple burden of having to resolve inequality, unemployment and poverty. In Namibia, unemployment - especially among the youth - remains the biggest threat to our democracy. Both countries need to work harder to achieve gender equality and combat the scourge of GBV. There is still much that can be done to address the needs of society, but with every action taken, we are one step closer to creating a better tomorrow for everyone.

It is important to note that our CSR initiatives rely on collaboration with strong non-profit partners. We do not wish to reinvent the wheel but rather support non-governmental organisations ("NGOs") and programmes with a good track record. Similarly, we wish to collaborate with the government, rather than attempt to replicate government services. For example, we contribute to improving outcomes in early childhood development ("ECD"), as this is a space where the government does not have sufficient capacity.

Bank Windhoek's proud history of CSR

As we mark the 40th anniversary of Bank Windhoek this year, we reflect on its positive legacy of corporate giving. The Bank Windhoek Cancer Apple Project has become one of Namibia's largest and longest-running fundraising initiatives since it was launched in 2000. It has generated N$31.9 million in funds donated to the Cancer Association of Namibia. These funds contribute to cancer outreach programmes, screening and educational activities across Namibia. Read more on page 48. Bank Windhoek established its Social Investment Fund in 2001 and contributed to significant positive change in Namibia over the years.

The Capricorn Foundation in 2022

Establishing the Capricorn Foundation in February 2020 significantly improved the strategic focus and impact 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.

The Foundation was established as a Section 21 company and registered as a Welfare Organisation (WO499) in Namibia. The board of directors consists of two Capricorn Group independent non-executive directors and three executives from the Group and its subsidiaries. We also have an independent director, Lavinia Shikongo, who is passionate about social development and has an extensive network in this space.

A management committee, representing all of the Group's Namibian subsidiaries, is in place to support the Foundation and to ensure that proper governance is followed when assessing and recommending projects to the board.

In June 2022, Marlize Horn, who has been acting as the Foundation's head since it was established, was appointed as its executive officer. She will take on this role in addition to her existing responsibilities as Group executive: brand and corporate affairs of Capricorn Group. She was involved in every stage of the Foundation's development, including conception, launch and subsequent operations.

Marlize will continue to chair the Foundation's management committee and report to the Foundation board. A coordinator position was created to support her in the Foundation's day-to-day management and administration. We wish her the best in bringing our purpose to life and vision to fruition.

The Group's Changemaker platform

Most employees would like to work for an employer that embraces its CSR role. Capricorn Group's 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. Employees volunteered at numerous Foundation-supported programmes and other standalone Changemaker initiatives this year. Read more on page 44.




In pursuit of greater sustainability

CSR is only one dimension of a broader sustainability approach. Bank Windhoek showed leadership in sustainable finance by listing Namibia's first green bond in 2018 and its first sustainability bond in 2021, which has enabled the Group to facilitate and contribute to the sustainable growth and development of Namibia. As a financial services Group, we are committed to responsible banking principles and strong corporate citizenship.

While we are proud of our solid ethical foundation, we appreciate that we are still in the early stages of our sustainability journey. This year, Capricorn Group workshopped sustainability with our board members, BSEC and senior management to raise awareness and garner support for greater strategic focus in this aspect of our operations. We also assessed the Group's sustainability initiatives using external consultants.

In 2023, we aim to deepen our actions in support of sustainability under the leadership of Ruan Bestbier, the new Group head of sustainability. Ruan was involved in developing Bank Windhoek's sustainable finance capabilities for several years. He will be responsible for shaping the Group's sustainability approach and framework in collaboration with internal and external stakeholders. A Group-wide sustainability integration programme will be considered to ensure optimal coordination and alignment across the organisation in all sustainability issues as well as environmental, social and governance ("ESG") matters. We look forward to the next stage of our sustainability journey.

A note of appreciation

I acknowledge the Group, subsidiary and Foundation boards for their sound leadership in 2022. Our success as a business and continuing our CSR activities throughout the pandemic was only possible thanks to responsible decision-making. I am proud that we continued supporting our non-profit partners when many other companies trimmed their CSR budgets.

A special thank you to our many Changemakers who demonstrated great heart and energy in their engagements with communities. Our CSR contributions would not be possible without extensive coordination and hard work. I thank my colleagues at Capricorn Group, our subsidiaries and the Foundation for making sure we add value to society.

Gerhard Fourie




Capricorn Group's board and management are committed to deepening our understanding of stakeholder needs and taking it into account in our business decisions."


This is an excerpt of the original content. To continue reading it, access the original document here.


Capricorn Group Ltd. published this content on 26 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2022 13:14:08 UTC.

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