FirstRand Namibia CFO rumoured to join SOE Department

Martin Endjala

The Chief Financial Officer of FirstRand Namibia, Oscar Capelao has resigned, the company announced.

Capelao’s resignation is effective end of April this year. The FirstRand Namibia board said it will commence with the process of appointing Capelao’s successor, with a further announcement to be made in due course.

Capelao says change is a model he understands well, that he is excited to watch the group continue to help build a globally competitive Namibia.

“I am a FirstRand citizen through and through, a lifelong customer of the bank of the changeable, and in whatever role comes next, supporting the FirstRand vision of unlocking opportunity for all will remain a cornerstone of my service in Namibia”,” he said.

Capelao, a seasoned Senior Executive in the market, said he is ready for new opportunities, after 17 years with the group, and ten years as Group CFO.

Meanwhile, the FirstRand Namibia group said he has been instrumental in the building of the old-style to the diversified end-to-end financial services giant.

FirstRand Namibia includes FNB Namibia, recently voted Bank of the Year, and the strongest banking brand in the world, RMB, market leader in corporate financing, IBD and CIB and markets, Ashburton, its rising institutional partner for growth, and an innovative and comprehensive Wealth management solution and service model via its FNB Retail and Point Break teams.

Furthermore, Conrad Dempsey, the Chief Executive Officer of FirstRand Namibia, narrated that talent, expertise and commitment are prized characteristics across all their franchises, FNB Namibia, RMB and Ashburton.

Additionally, the CEO said that Capelao’s financial leadership leaves a strong group, well-experienced in best practice, and strategic execution and most especially, well-versed in their role in society, and the promises they have made to their customers.

“His leadership style and knowledge-sharing experiences, mean that our extensive financial teams across the group, are best placed to assume the challenge of the next phase of our growth”, stated Dempsey.

The Group CFO role Dempsey said, is an executive coordinating financial role towards delivering integrated reporting, while each franchise in the group – FNB Namibia, RMB and Ashburton, has the benefit of its own financial services team relating to daily operations.

Efforts to understand the nature of Capelao’s resignation could not be established. This was due to the fact that he is still involved in the operations and is not allowed to speak to the media except only on his last days of resignation. He’s however rumoured to join the Ministry of Finance in the SOE Department.

“Oscar Capelao’s departure from the FirstRand Namibia CFO seat is still fresh, as such he will not be directly engaging with the media on this topic.

However, because this announcement was made well in advance, he is currently still very present and involved in the operations of the business”, read the response from the listed company.

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