Capricorn Group believes investing in education and local communities isn’t just charity—it’s a smart strategy for lasting change.
In 2024, Capricorn Group invested N$25.8 million in Corporate Social Responsibility (CSR) programs in Namibia and Botswana, marking a significant increase from the previous year’s N$21.7 million. This startling statistic highlights the group’s commitment to driving positive change beyond its balance sheets.
Capricorn Group, a renowned financial services company listed on the Namibia Stock Exchange, operates in Namibia and Botswana through its subsidiaries, Bank Windhoek and Bank Gaborone, and financial services providers, including Capricorn Asset Management and Entrepo. Founded with a core ethos of sustainable financial growth, Capricorn Group focuses not only on business expansion but also on creating positive societal and environmental change. The company’s identity as a “Connector of Positive Change” is embedded in its values of integrity, excellence, and accountability.
The Group’s approach to Corporate Social Responsibility (CSR) stems from its belief that companies can thrive only in thriving communities. Through the Capricorn Foundation, the group supported 48 projects and programs during the last financial year, enabling ethical relationships and investing in community projects. Capricorn Group has established a harmonious connection between business success and social well-being. This philosophy is evident in the way the group’s core values align with broader CSR objectives. Capricorn understands that financial growth must be balanced with social responsibility, and its initiatives have been tailored to reflect that. Their CSR vision, based on unlocking sustainable opportunities for socio-economic progress, seamlessly integrates with their corporate purpose.
Blueprint for Better
Capricorn Group’s commitment to positive change is evident in its structured approach to CSR. The group has established a comprehensive policy that outlines its vision, principles, and focus areas for social initiatives. This policy serves as a roadmap, guiding the group’s efforts to create meaningful impact. The group’s initiatives are carefully aligned with Namibia’s Harambee Prosperity Plan (HPP II), ensuring that their efforts contribute directly to national development goals. This local focus is complemented by a global perspective, with the group’s activities also supporting international objectives.
Central to Capricorn Group’s CSR strategy is the Capricorn Foundation. This entity plays a crucial role in implementing and coordinating the group’s social initiatives across its areas of operation. The Foundation ensures that all activities, whether undertaken by Bank Windhoek, Bank Gaborone, or other subsidiaries, are in harmony with the Group’s overarching goals. In 2024, the key focus areas for Capricorn Group’s CSR efforts include education and training (N$5.1 million), economic advancement (N$2.1 million), vulnerability initiatives (N$2.6 million), health (N$300,000), and sustainability programs (N$1 million). Focusing on these critical sectors enables the group to address fundamental societal needs and drive lasting positive change in the communities it serves.
The Capricorn Foundation Food Waste Challenge exemplifies the group’s innovative approach to addressing critical societal issues, specifically food insecurity. This initiative focuses on reducing food waste by encouraging creative solutions to redirect surplus food to those in need. With a substantial reward of N$100,000, the Challenge incentivizes innovation and community involvement. In 2023, the initiative supported over 152 submissions, including solutions like food preservation, driving both awareness and practical action toward reducing food waste.
The impact of this initiative extends beyond immediate food redistribution. It fosters a culture of problem-solving and encourages local businesses, NGOs, and individuals to collaborate in addressing a shared challenge. This approach aligns with the group’s belief in creating sustainable, community-driven solutions. The Foundation’s commitment goes beyond the initial challenge. Funding and implementing the most promising ideas, Capricorn Group ensures that the initiative leads to tangible, long-term results. This follow-through demonstrates the group’s dedication to seeing projects through from concept to reality.
Through this program, Capricorn Group is actively contributing to improved food security in Namibia, showcasing how targeted CSR initiatives can address pressing societal needs effectively. Capricorn Group’s multi-tiered CSR strategy extends beyond individual initiatives, emphasizing partnerships, community engagement, and employee involvement. This approach ensures that their efforts are comprehensive and deeply rooted in the communities they serve.
Collaboration is key to the group’s success. Capricorn’s partnerships with international and local stakeholders, such as participation in COP28 in Dubai and workshops like the NGO Capacity Building Workshop, demonstrate growing collaborative efforts. This collaborative approach enhances the effectiveness and sustainability of their initiatives. Capricorn Group’s commitment to sustainable development is evident in its long-term investment in community programs like the Community Education and Empowerment Program.
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The Changemaker program stands out as a prime example of employee engagement in CSR efforts. 7 Changemaker initiatives engaged 300 employees, volunteering time and donating resources. This not only strengthens the connection between employees and the communities they serve but also amplifies the impact of the group’s CSR initiatives.
To ensure the effectiveness of its programs, Capricorn implements rigorous partner due diligence and consistent monitoring through quarterly reports. This meticulous approach maximizes the impact of their investments and allows for continuous improvement of their initiatives. The Cancer Apple Project exemplifies the long-term commitment and significant impact of Capricorn’s CSR efforts, demonstrating how sustained engagement can lead to meaningful change in communities.
Numbers Never Lie
The tangible impact of Capricorn Group’s CSR initiatives is evident in the significant financial investment and the breadth of projects undertaken. In the 2023/2024 financial year, the group marked a substantial increase of N$4.1 million from its N$21.7million the previous year in its allocation to social responsibility projects across Botswana and Namibia. This investment has yielded concrete results across various sectors.
In education, Capricorn’s involvement in early childhood development led to a partnership with the Namibian government to develop a new curriculum. The Capricorn Foundation’s Emerging Bankers Programme received N$1 million to provide training to ten Grade 12 graduates over 18 months. The Edu-Light project brought practical solutions to rural students, providing solar lights that enabled nighttime studying and reduced reliance on harmful fuels. Health initiatives have been equally impactful. Eye-care campaigns restored vision to over 2,000 rural residents through life-changing surgeries, dramatically improving their quality of life.
The group’s agility in responding to crises was demonstrated during the COVID-19 pandemic. A swift contribution of N$5 million to relief efforts showcased Capricorn’s ability to adapt and respond to urgent community needs. These initiatives, along with the Food Waste Challenge that engaged over 1,200 direct beneficiaries, illustrate the wide-ranging and meaningful impact of Capricorn’s CSR efforts on communities in Namibia and Botswana.
The strength of Capricorn Group’s CSR initiatives lies in its strategic partnerships. A notable collaboration with the United Nations World Food Programme (WFP) brought together 70 key players from the private and public sectors to address Namibia’s food security challenges. This initiative explored innovative pathways for sustainable food systems, tackling one of the country’s most critical issues.
These partnerships extend beyond immediate relief efforts. The Rural Revive initiative in Maltahöhe focuses on building a desert-based economy, employing 15 full-time workers, and training farmers. This approach ensures that their CSR initiatives align closely with national priorities and development goals. Through these collaborations, Capricorn Group amplifies its impact, tapping into the expertise and resources of various organizations. This strategy not only enhances the effectiveness of their initiatives but also promotes a collaborative approach to addressing complex social challenges, creating a multiplier effect in their CSR efforts.
Weathering the Storm
The COVID-19 pandemic presented unprecedented challenges for Capricorn Group’s CSR programs, necessitating swift adaptations to their approach. Faced with logistical hurdles and resource constraints, the group demonstrated remarkable agility in reallocating resources to address urgent needs. This shift in focus led to innovative solutions. The group invested in digital literacy initiatives, supporting remote learning for students in underserved communities. This not only addressed immediate educational needs but also equipped students with valuable skills for the future.
Recognizing the pandemic’s economic impact, Capricorn pivoted towards projects providing immediate socio-economic relief. They launched job creation programs under their economic advancement focus, directly targeting the growing issue of youth unemployment. The Group’s adaptability extended to their healthcare initiatives as well. They swiftly provided emergency oxygen supplies, addressing a critical shortage during the pandemic’s peak. These responsive actions, coupled with their ability to maintain sight of long-term goals, showcased Capricorn Group’s resilience and commitment to community well-being. The group effectively navigated the challenges while continuing to drive positive change in their communities by balancing immediate crisis response with sustained development efforts.
Capricorn Group’s future CSR strategy sets ambitious targets for 2025 and beyond. The Group aims to elevate its role in sustainable development, fostering deeper collaborations between various sectors. This vision includes expanding successful initiatives like the Food Waste Challenge while venturing into new areas such as renewable energy and environmental sustainability. The Group’s forward-looking approach aligns with global sustainability frameworks, addressing critical issues like youth unemployment and education. A key focus is the integration of Environmental, Social, and Governance (ESG) principles across its operations.
This commitment extends to adopting green finance practices and reducing the Group’s carbon footprint. The Capricorn Foundation aims to create sustainable value by focusing on meaningful engagement and partnerships with stakeholders. These future-oriented initiatives reflect Capricorn Group’s dedication to driving long-term positive change, balancing local impact with global sustainability goals.
The Road Ahead
Capricorn Group’s comprehensive approach to Corporate Social Responsibility has yielded significant results across various sectors in Namibia and Botswana. From addressing food insecurity to advancing education and healthcare, the Group’s initiatives have touched countless lives. Their ability to adapt swiftly to crises, exemplified during the COVID-19 pandemic, showcases their commitment to community well-being.
The Group’s forward-looking strategy, focusing on sustainable development and ESG principles, positions it as a leader in corporate citizenship. Capricorn Group is committed to rethinking how to measure its impact and will focus on enhancing stakeholder engagement. Aligning their efforts with global frameworks and local needs, Capricorn Group is setting new standards for responsible business practices.
Through strategic partnerships, employee engagement, and innovative programs, Capricorn Group has created a model of corporate responsibility that goes beyond financial contributions. Their approach demonstrates how businesses can be powerful catalysts for positive change, creating lasting impacts on communities and the environment while maintaining strong financial performance.
Reviewed by Tomi Abe, Co-Publisher of Susinsight
