Staff Reporter
WINDHOEK, Sept. 6 — Capricorn Group has published its annual Social Value Report in anticipation of the release of its Integrated Annual Report and financial results for 2023, scheduled for September 14, 2023.
For the period ending on June 30, 2023, Capricorn Group, encompassing the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo, and Bank Gaborone, demonstrated its commitment to social responsibility by investing N$21.7 million (compared to N$16.3 million in 2022) in various social programs and projects in Namibia and Botswana. As a prominent financial services provider in these regions, Capricorn Group remains dedicated to delivering value to its communities and instigating positive change.
The Social Value Report serves as a testament to Capricorn Group’s Corporate Social Responsibility (CSR) philosophy and approach. It provides a comprehensive overview of the Group’s CSR endeavours and their impact during the previous fiscal year, with a particular emphasis on the 32 projects supported by the Capricorn Foundation. Established in February 2020 as a Section 21 company and a registered welfare organization (WO499), the Capricorn Foundation acts as the primary vehicle for Capricorn Group’s CSR initiatives.
Gerhard Fourie, Chairperson of Capricorn Group, highlighted the essential role of the private sector in fostering economic growth and development. He underscored the significance of collaboration across sectors to address shared challenges, particularly emphasizing the issue of youth unemployment in Namibia. Fourie emphasized Capricorn Group’s commitment to identifying avenues for economic enhancement and job creation through vocational training and skills development programs.
Marlize Horn, Group Executive of Brand and Corporate Affairs and Executive Officer of the Capricorn Foundation emphasized the Group’s social responsibility and its commitment to stakeholders. She stressed that Capricorn Group’s CSR initiatives extend beyond financial transactions, emphasizing a deep understanding of the Namibian CSR landscape, key players, socioeconomic challenges, and the potential for collaboration with partners to address societal needs.
Capricorn Group reiterated its dedication to transparency and accountability in reporting its CSR programs and their outcomes, facilitated through the Capricorn Foundation and its subsidiary entities. The Foundation’s growth since its launch in 2020 has been marked by efforts to expand networks and enhance stakeholder engagement, with a particular focus on education and food security.
The Capricorn Foundation’s Food Waste Challenge, a flagship project, has effectively raised awareness about food waste contributing to food insecurity. The Foundation remains committed to identifying additional signature projects that will have a substantial and lasting impact on local communities.
Gerhard Fourie, Chairperson of the Capricorn Foundation, expressed gratitude to the numerous partners and Capricorn Group employees, who, in their roles as Changemakers, have actively contributed to the betterment of society over the past three years.
As Capricorn Group continues to demonstrate its commitment to positive change and community development, the release of its annual financial results in September 2023 promises to shed light on the financial performance that underpins these commendable CSR efforts.
