By Staff Reporter
Windhoek, Aug. 22 – In a pivotal development, Gerhard Fourie, Chairperson of the Board of Directors at Capricorn Group, has announced the forthcoming transition of Thinus Prinsloo, Group CEO. Prinsloo is set to embark on a new opportunity at Capricorn Investment Holdings (CIH), the largest shareholder in Capricorn Group. Consequently, Thinus will step down from his role as Group CEO of Capricorn Group once the recruitment process for his successor concludes.
Thinus Prinsloo’s journey with the Group commenced in 2011 when he assumed the role of Executive Director at CIH. His responsibilities expanded in 2013 as he became an Executive Director of Bank Windhoek Holdings (BWH). A significant milestone was reached on January 1, 2016, when he assumed the position of Group CEO of BWH, subsequently rebranded as Capricorn Group in September of the same year.
Throughout his tenure, Prinsloo has been instrumental in shaping the Group’s strategic direction and effectively delivering desired strategic outcomes. His leadership witnessed the Group’s expansion through investments in Entrepo Holdings and Paratus Holdings within Namibia, and the establishment of Peo Finance in Botswana, part of a purposeful diversification strategy. His active involvement across subsidiary and associate boards further bolstered the growth and sustainability of these entities. In a national capacity, Prinsloo was appointed by the President of the Republic of Namibia to chair the Business Rescue Task Force in 2021.
Under Prinsloo’s guidance, the Group has presented a compelling investor proposition, consistently translating into robust year-on-year results. Over the last seven years, the compound annual growth rate of total group assets and group net profit stands at an impressive 10.1%. Reflecting this success, the net asset value per share as of December 31, 2022, marked a substantial 90% increase from January 1, 2016, when Prinsloo assumed his leadership role as Group CEO.
Commenting on the new chapter ahead, Thinus Prinsloo, Group CEO, shared, “I am thrilled about the new opportunity presented by CIH, the largest shareholder in Capricorn Group. I take immense pride in the consistent value we have created for all stakeholders since our listing a decade ago, even amid challenging operational circumstances. Our strong brand, positive reputation, and deep stakeholder relationships underscore our achievements. I particularly celebrate the unwavering financial performance of the Group since 2016. I extend my gratitude to the Board, Group Exco, Executive Management, and the entire Group workforce for their support during my seven-year journey. Leading Capricorn Group and its dedicated 2000+ employees has been an honour. As I transition to my role at CIH, I eagerly anticipate new opportunities to continue delivering value to our stakeholders.”
Gerhard Fourie, Chairperson of Capricorn Group, expressed the Board of Directors appreciation for Prinsloo’s impactful contributions to the growth and prosperity of the Group. Fourie conveyed his best wishes for Prinsloo’s future endeavours at CIH, highlighting the strong foundation Prinsloo has established for Capricorn Group’s forthcoming strategic cycle. “Thinus’s extensive experience within the regional financial services sector will undoubtedly benefit the Group as we move forward,” Fourie remarked.
The process to identify a successor for Thinus Prinsloo is underway, and further updates will be communicated in due course.