Martin Endjala
The Capricorn Group held the groundbreaking ceremony for the start of construction on a new office building in Windhoek’s central business district on Tuesday.
The group’s chief executive officer, David Nuyoma, said the development is designed to reflect the group’s four-decade legacy while accommodating over 200 employees and addressing the growing need for office and parking space.
“It represents the group’s commitment to contributing meaningfully to the rich heritage and renewal,” he said.
The Capricorn Group building, which houses its subsidiary bank, Bank of Windhoek, will be next to the building at the corner of Independence Avenue and Kasino Street.
The building, which is yet to be formally named, has been designed to symbolise the group’s achievements over more than four decades and to accommodate the growing need for office and parking space.
He said the building would be a hub for collaboration and innovation in an environment that embraces sustainability for employees.
The building, which is expected to be completed by June 2026, will accommodate more than 200 employees from Capricorn Group and its subsidiary, Bank Windhoek.
“In line with the group’s purpose to be connectors of positive change, the building is designed to incorporate innovative practices to minimise environmental impact and maximise energy efficiency. Adhering to world-class green building standards, the development is a testament to Capricorn Group’s commitment to promoting sustainable practices,” said Nuyoma.
The Bank Windhoek Main Branch, which has been located in the Bank Windhoek Head Office building next door for 42 years, will also be moving to the new building.
This move, he said, will provide customers with an enhanced and modern banking and customer service experience.
“We are not just breaking ground on a new development; we are laying the foundation for an exciting new chapter in the story of our financial services group. This groundbreaking ceremony symbolises our progress and relentless pursuit of innovation and positive change while remaining firmly rooted in our heritage and values,” said the CEO.
He said they are not just investing in a brick-and-mortar structure.
Nuyoma added that the project represents a significant investment in the city’s economic and cultural fabric.
“Our commitment is to ensure that this development fosters growth and prosperity for the community, enriching the lives of future generations. As we stand here today, we celebrate the beginnings of what will become a new landmark in the heart of Windhoek—a city that has been our home since 1982 and has borne witness to our growth and evolution,” he said.
Johan Swanepoel, chairman of the board of directors of Bank Windhoek, said the construction phase of this development alone will create more than 250 local jobs and support local businesses that will supply materials and a range of services.
“These jobs will bolster our local economy, enhance the livelihoods of our residents, and ultimately contribute to a robust and prosperous community,” said the chairman.
Baronice Hans, the managing director of Bank Windhoek, said the new space will not only create an enhanced working environment for our employees but also world-class facilities for our customers.
“I would like to thank our future landlord for their vision and collaboration on this project. We are grateful that, as anchor tenants, we have been allowed to provide input into the design and layout of the building and that the needs of our employees and customers have been taken on board,” she said.
Marlize Horn, the group’s brand and corporate affairs executive, told the Windhoek Observer that the cost of the construction will be revealed later.
