The Capricorn Group recently partnered with the Namibia Revenue Agency (NamRA) to carry out a risk management workshop with members of NamRA’s Enterprise Risk Management Committee and senior managers.

The Capricorn Group’s Business Risk Officer, Horst Simon, facilitated the workshop on Thursday, 15 February 2024, focused on building an effective risk culture within NamRA. He previously delivered training workshops to various government entities in Namibia as part of the Connectors of Positive Change initiative by the Capricorn Group. These included the finance, as well as information and communication technology ministries, the Namibia Standards Institute, and the Namibia Institute of Pathology.

NamRA recently established an internal Risk Management Department, and engaged the Capricorn Group to support with carrying out risk training, as guidance to NamRA’s first Enterprise Risk Management Committee meeting. NamRA commissioner Sam Shivute, who also serves as chairperson of the Enterprise Risk Management Committee, expressed the agency’s appreciation for Capricorn’s initiative, and the contribution made to NamRA through the introductory training session as a foundation for risk management.

The Capricorn Group stated that it was honoured to be able to work with NamRA to share knowledge and best- practices for identifying potential risks in advance, analysing them, and taking precautionary steps to manage risks effectively. 

Over the years, Capricorn created an environment where employees understand their role and obligation in managing risk. Through this effective risk culture, the Group acknowledged it has earned the trust of its customers and shareholders. 

“As a leading financial institution listed on the Namibian Stock Exchange, the Capricorn Group believes that good corporate governance leads to credibility, which is key to value-creation for its stakeholders,” read a Capricorn statement. 

“At the Capricorn Group, we believe that we are part of a bigger, interconnected global system. Our approach to being a responsible, regional and global citizen is built into the DNA of all our businesses. We view this workshop as an opportunity to invest in advancing a better sustainable future for all Namibians,” added Simon.