Staff Writer
Bank Windhoek has appointed Nangula Nelulu-Uaandja as an independent non-executive director with effect from 2 July 2026, following regulatory approval from the relevant authorities.
The appointment was announced by Bank Windhoek and its parent company, Capricorn Group, in separate notices to shareholders.
Bank Windhoek said the appointment was made in line with its policy on the nomination of directors and after obtaining the necessary regulatory approval.
The board welcomed Nelulu-Uaandja, saying it looked forward to benefiting from her insights and contributions.
The appointment also forms part of a series of board changes announced by Capricorn Group.
The group said the Bank of Namibia has approved the appointment of Nangula Hamunyela as an independent non-executive director of the Capricorn Group board, also effective from 2 July 2026.
Capricorn said Hamunyela’s appointment complies with the Namibia Securities Exchange (NSX) Listing Requirements and that the board looks forward to her valuable contribution to the group.
In a separate announcement, Capricorn disclosed the resignation of independent non-executive director E. Fahl, which became effective on 1 July 2026. The board thanked Fahl for her service, expressing gratitude for her “invaluable contributions” during her tenure.
The appointments and resignation form part of the group’s ongoing board renewal and governance processes and were disclosed in accordance with the NSX and JSE Debt and Specialist Securities Listing Requirements.
Bank Windhoek, a fully owned subsidiary of the Capricorn Group, is the largest entity under the umbrella of Capricorn Investment Group Limited, a Namibian financial services group listed on the Namibian Stock Exchange, with interests in banking, insurance, asset management, investments and microfinance. It is the only systemically important bank in Namibia that is not foreign-owned.
Bank Windhoek contributes more than 95% of the total income of Capricorn Group and represents more than 89% of the group’s net asset value.
While BW Finance, a subsidiary of Bank Windhoek, is the vehicle through which the group does its micro lending business, which is a separate entity, as per regulation.
