The skyline in Windhoek’s central business district (CBD) is set for a major makeover, as construction has officially commenced on the Capricorn Group’s new 13-storey landmark building.
The groundbreaking ceremony on the corner of Independence Avenue and Kasino Street took place on Tuesday morning in what the group called a “historic milestone” for what will be an environmentally-friendly and energy- efficient structure that is expected to be completed by mid-2026.
More importantly, the massive investment into Windhoek’s CBD by the home-grown financial services, giant signifies confidence in the CBD, and is sure to breath new life into an area that has faced numerous challenges in recent years. This investment, which will accommodate more than 200 employees from Capricorn Group and its subsidiary, Bank Windhoek, takes place as many other major corporations have decentralised to less-congested options in outlying neighbourhoods.
“We’re not simply investing in a structure of bricks and mortar; this project represents a significant investment in our beloved 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,” said Capricorn Group CEO David Nuyoma.
“Today, we’re not just breaking ground on a new development; we’re 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, yet remaining firmly rooted in our
heritage and values,” he said.
In a media statement, Capricorn noted the new 13-storey landmark building is testimony to its commitment to creating positive change for its employees, customers and the surrounding business community.
“The building, which is yet to be formally named, has been meticulously designed to symbolise the group’s achievements of more than four decades, and to accommodate the growing need for office and parking space. For Capricorn Group’s employees, it will serve as a hub for collaboration and innovation in an environment that embraces sustainability,” the statement read. Capricorn added the building’s design incorporates 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. The Bank Windhoek main branch, which has been located in the Bank Windhoek head office building next door for 42 years, will be moved to this new building. This move will provide customers with an enhanced and modern banking and customer service experience,” the statement continued.
At the groundbreaking ceremony, Bank Windhoek board chairman Johan Swanepoel said, “As we celebrate this undertaking, let us reflect on the positive ripple-effects. 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.”
Swanepoel further noted the group has a strong history with this land on which the new building is being constructed.
Continued that the group is determined to breathe new life into the intersection, and will explore ways to rejuvenate the space around the new building for the benefit of employees, customers and the
community.
“I would like to extend my heartfelt gratitude to our future landlord for their vision and collaboration on this project. We are grateful that, as anchor tenants, we have been given the opportunity to provide input into the design and layout of the building, and that the needs of our employees and customers have been taken onboard. This new space will not only create an enhanced working environment for our employees, but also world-class facilities for our customers,” said Bank Windhoek managing director Baronice Hans.