Capricorn Group – Windhoek Observer

29 Aug

Capricorn expecting higher profits

CHAMWE KAIRA Capricorn Group’s expects profit after tax and earnings per share for the year ended 30 June to be materially higher by between 15% and 20% compared to what was reported in the prior period. Additionally, headline earnings per share for the year ended 30 June 2024 is expected to be materially higher than what was reported in the prior period by between 13% and 18%, the group said. Capricorn added that during the year ended 30 June, Capricorn Group implemented IFRS 17 – "Insurance Contracts", which requires full retrospective application for disclosure purposes. FRS 17 is an International…

20 Aug

Construction of Capricorn Group sustainable building commenced

ObserverObserver MoneyCapricorn Group, David Nuyoma, Johan Swanepoel

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…

15 Aug

Capricorn Group, Sanlam teams up to support financial reporting skills

ObserverNational NewsCapricorn Group, CAPRICORN Group and Sanlam Namibia, Sanlam teams up to support financial reporting skills

Staff Writer CAPRICORN Group and Sanlam Namibia hosted a Financial Journalism Workshop themed ‘Mastering key concepts in financial journalism. The well-attended workshop was aimed at capacitating media practitioners in reporting on the financial services industry, including banks and the insurance industry. Media practitioners from the broadcast, print, and digital spheres and final-year media students from the University of Namibia (Unam) and the Namibia University of Science and Technology (Nust) attended the workshop to network and sharpen their financial reporting skills. Capricorn Group and Sanlam Namibia’s individual efforts in the past to upskill media practitioners have proven to be highly enlightening…

12 Mar

Bank Windhoek fires manager for racist remarks

ObserverObserver MoneyBank Windhoek, Capricorn Group, Riaan Van Rooyen

Kandjemuni Kamuiiri Bank Windhoek has dismissed its suspended Sales Manager, Riaan Van Rooyen, for sharing a racially offensive post on his social media last year, which equated black people to monkeys. Van Rooyen had been suspended by the bank, pending an investigation into his conduct. “We wish to confirm that the individual in question has been dismissed. Bank Windhoek and Capricorn Group would like to reiterate its policy of zero tolerance towards any form of behaviour that does not conform to internal policies, and does not speak to our values that underpin ethical business conduct from any employee at any…

26 Feb

Capricorn Group profits down N$118.8 million

ObserverUncategorisedCapricorn Group, Thinus Prinsloo

Staff Writer Capricorn Group released its interim financial results for the six months ended 31 December 2020 on Thursday, where it reported a N$118.8 million decrease in the group’s profit from continuing operations, relative to the pre-COVID-19 comparable period. “This year-on-year decrease is mainly due to interest margin compression and increased impairment provisions. Lower interest margins are a result of unprecedented interest rate decreases enacted by central banks to counter the slowdown in the economy. Increased impairment provisions resulted from the extremely challenging economic and market conditions in the wake of imposed lockdowns and other responses to the pandemic”, said…

07 Aug

Capricorn to exit Zambia

ObserverObserver MoneyAccess Bank Plc, Capricorn Group, Cavmont Capital Holdings Zambia PLC

Staff Writer Capricorn Group is set to directly disinvest from Zambia, after the banking group announced that it had concluded a purchase agreement with Access Bank Plc for its entire interest in Cavmont Capital Holdings Zambia PLC. Under the terms of the agreement which is still subject to regulatory approval, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank, and on completion, Cavmont Bank will become part of Access Bank Zambia and operate under the Access Bank brand. Capricorn on the other hand will hold preference shares in the enlarged Access Zambia…

17 Jul

Local companies lose N$6.5 billion on NSX

ObserverObserver MoneyCapricorn Group, FirstRand Namibia, Namibia, Namibian Breweries

Staff Writer Capricorn Group, FirstRand Namibia, Namibian Breweries lost a combined N$6.5 billion in value after the counters recorded massive loses on Thursday’s trade on the Namibian Stock Exchange (NSX). The biggest loser was FirstRand Namibia which shed a massive N$2.9 billion in value, closing Thursday trade with a market capitalization of N$5.3 billion, down 35.37 percent. Diversified financial services group, Capricorn Group, the owners of Bank Windhoek shed N$1.8 billion in value, closing Thursday trade with a market capitalization of N$5.3 billion, down 25 percent. Ohlthaver & List Group controlled Namibian Breweries’ market capitalization plummeted 25,35 percent, down N$1.8…