Martin Endjala
Capricorn Group has announced a total spending of N$25.8 million, including contributions from its foundation, towards corporate social responsibility (CSR) initiatives in Namibia and Botswana.
This represents a 19.1% increase from the N$21.7 million spent in 2023.
Marlize Horn, the group’s executive of corporate affairs, made the announcement on Thursday at the launch of the 2024 Social Value Report.
“This report details the efforts of Capricorn Group and its subsidiaries—Bank Windhoek, Bank Gaborone, Capricorn Asset Management, Entrepo, and the Capricorn Foundation—to empower and support the citizens of the countries where we operate, namely Namibia and Botswana,” she said.
The Capricorn Foundation alone invested N$11.1 million in projects across its five focus areas. The Capricorn Foundation allocated N$5.1 million to education projects and N$6 million to vulnerability initiatives in the past year.
Horn said the foundation’s commitment to addressing the critical needs of Namibia’s younger generations, highlighting that investing in quality early childhood development as well as primary and secondary education remains a top priority.
“In the past year, we focused on building new partnerships while strengthening our relationships with existing stakeholders through meaningful engagement. We continued to support impactful projects and programs that align with our focus areas of education, economic advancement, vulnerability programs, health, and sustainability,” she said.
During the year under review, the group honed its focus on the United Nations’ Sustainable Development Goals (SDGs) with the help of a UN-accredited specialist.
Horn noted that the group had narrowed its priority SDGs to three: SDG 2—End Hunger, SDG 4—Quality Education, and SDG 8—Decent Work and Economic Growth.
“These three SDGs align with the group’s overarching purpose, values, and business imperatives. By prioritising these three SDGs, we will enhance our focus and impact on our programs. We also took a step further and identified eight specific targets for these SDGs, which we will report on in our 2025 Report,” she explained.
This year, the group increased its CSR contributions to foster relationships with long-standing and new partners while rethinking how to measure its impact going forward.
“Our group’s CSR vision is to be an inspiring connector of positive change in our communities by creating economic value responsibly and unlocking sustainable opportunities to advance and improve economic and social conditions,” said Horn.
She added that the group’s success directly benefits communities, enabling them to create and preserve value for all stakeholders.
“We are proud of the incredible work of the Capricorn Foundation, a Section 21 company and registered welfare organisation, which serves as the group’s main driver for its CSR initiatives,” she stated.
Now in its fourth year since its establishment, the Capricorn Foundation has built a social footprint across Namibia, impacting more than 48 projects nationwide.
Horn highlighted the Foundation’s efforts to raise awareness about food insecurity, hunger, and food waste since 2022, which is particularly critical as Namibia faces a severe drought.
