Capricorn Group, a Namibian financial services group listed on the Namibian Stock Exchange, with diversified operations and business interests in Namibia and Botswana, released its annual social value report yesterday.
This follows the release of the group’s integrated annual report and annual financial results on 14 September 2022. Capricorn said it is proud of its contributions to society in pursuit of its purpose of being connectors of positive change, and strive to be open, transparent and accountable in reporting its corporate social responsibility (CSR) programmes and their impact.
For the period ending 30 June 2022, the group and its subsidiaries in Namibia and Botswana invested N$15.4 million (an increase of 26.9%) in corporate social responsibility initiatives. This represents 1.3% of the group’s profit after tax, which is in line with the group’s CSR policy guideline of 1% of profit after tax.
“The first standalone social value report of the Capricorn Group reflects our approach to CSR, and outlines the activities of the Capricorn Group, as well as the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo and Bank Gaborone. As a responsible corporate citizen, the Group’s CSR vision is aligned to its purpose: to be an inspiring connector of positive change by creating economic value in a responsible way that creates sustainable opportunities for advancing and improving economic and social conditions in the communities in which the Group operates. For the Group, CSR means doing the right thing, for the right reasons,” said Marlize Horn, group executive for brand and corporate.
“As we emerge from the Covid-19 pandemic, our country needs CSR investment more than ever, and there is tangible enthusiasm for making a positive difference in communities. There is still much that can be done to address the needs of society, but with every action taken, we are one step closer to creating a better tomorrow for everyone.
“Establishing the Capricorn Foundation in February 2020 as a registered non-profit organisation significantly enhanced the strategic focus and impact of the Group’s CSR investments.
Over the past two years, the foundation has positioned itself as a thought leader in CSR with a portfolio of 16 impactful projects operating across Namibia. Furthermore, the Capricorn Group’s employee volunteer programme, the #changemaker programme, adds substantial value to our CSR initiatives. Enabling our employees to volunteer their productive time to support communities build pride in our brand enhances employee engagement, and connects our employees to our purpose,” added Horn.