For the period ending 30 June 2023, Capricorn Group, including the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo and Bank Gaborone, invested N$21.7 million (2022: N$16.3 million) in social responsibility programmes and projects in Namibia and Botswana. This is according to the Capricorn Group’s annual Social Value Report last week.
The report precedes the release of the Group’s Integrated Annual Report and annual financial results for 2023, which are scheduled to be released on 14 September 2023.
As a financial services provider in Namibia and Botswana, Capricorn Group stated that it prides itself on creating value for communities in which it operates to bring about positive change.
The report reflects its corporate social responsibility (CSR) approach and philosophy, and it outlines CSR activities and impact during the past financial year, specifically emphasising the 32 projects supported by the Capricorn Foundation.
The foundation was established in February 2020 as a Section 21 company and registered welfare organisation to act as the main vehicle of the Group’s CSR programmes.
“As the private sector, we have a crucial role in spurring economic growth and development. We are strong advocates for collaboration – and during the past year, we experienced the power of like-minded organisations from various sectors working together to find solutions for common problems. There is ample opportunity for even more collaboration to address the social challenges we experience in Namibia and Botswana. One of these social challenges is unemployment, with the biggest unemployment demographic in Namibia being the youth. As Capricorn Group, we are determined to identify channels for economic enhancement and job creation, such as vocational training programmes and skills development initiatives that will improve the economic prospects of young people,” said Gerhard Fourie, Capricorn Group chairperson.
“As a Group, we are socially responsible and strongly obliged to our stakeholders. In keeping with our brand promise of being connectors of positive change, we take pride in the value we create through our CSR initiatives by positively impacting lives,” said Marlize Horn, Group executive: brand and corporate affairs and executive officer of the Capricorn Foundation.
“The work we do is more than just about paying an invoice. We consider the Namibian CSR landscape to understand the key role players, what socioeconomic challenges are being addressed and where we can work and collaborate with partners. There is so much that can be done to address the needs of society – but with every action taken, we take one step closer to creating a better tomorrow,” Horn added.
Capricorn Group has committed to be open, transparent and accountable in reporting its CSR programmes and their impact through the Capricorn Foundation and its subsidiaries, which also support and facilitate their own projects.
“The Capricorn Foundation has made great strides in executing its mandate over the past three years as the main vehicle of the Group’s CSR. We are grateful to our numerous partners, who continue to collaborate with us in the communities we operate. I would also like to thank the hundreds of Capricorn Group employees, who, in their roles as changemakers, continue to dedicate their time and personal resources to impact the lives of others positively,” concluded Gerhard Fourie, Capricorn Foundation chairperson.