Capricorn Group grows to N$8.21b in ten years …… N$3 billion paid in dividends to shareholders

Chamwe Kaira

The capitalisation of the Capricorn Group Limited in 2020 has grown from N$5 billion at the time of listing on the Namibia Stock Exchange in 2013 to N$8.21 billion, the group said in 2023 annual report. The share price at the time of listing was N$8.75 at the time of listing. As at 12 September the share price was N$15.81 resulting in a market capitalisation of N$8.21 billion.

When the Group was listed it generated a revenue of N$1.4 billion, compared to N$4.6 billion for 2023. At the time of listing, it had total assets of N$21 billion and net assets of N$2.6 billion (including the proceeds from the public offer at the time of the listing: N$355 million) compared to N$63 billion total assets and N$8.3 billion net assets in 2023.

“Over the past ten years, we experienced the reputational benefits of being a listed business. It helped us build the Group’s profile in the media and among the public. Today, we are widely recognised as a transparent and responsible corporate citizen. Almost all our shareholders are Namibian, and in the decade since we listed, we have paid N$3 billion in dividends to shareholders

The group has operations in Namibia and Botswana with the flagships in the two countries being Bank Windhoek and Bank Gaborone.

Commenting on Namibia’s economic prospects, Capricorn said the country’s discovery of oil and gas is significant, with commercial quantities estimated in the billions of barrels.

“While this deposit is deep and may require higher production costs, the potential volumes and access to both fuel types make it highly attractive to investors.”

The group is pleased that discussions around the find are moving forward and will likely be developed within the next five years.

“As a developing country grappling with high unemployment and inequality, we cannot ignore the potential of this find despite the global tide moving against fossil fuels. As a financial services group, we are paying attention to how we can participate in this opportunity,” the group said.

Capricorn said climate finance and renewable energy is also a focus area for the group. It invests in renewable energy and sustainable development projects through its green and sustainability bonds and the Caliber Capital Trust.

“We will focus on making renewable energy and sustainability investments more affordable to SMEs and individuals through Bank Windhoek’s Sustainability Loan, launched in 2022.”

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