Transactions - we facilitate payments

Loans, credit and deposits - we provide credit, loans and savings or investment products

Asset management - we invest and manage assets on behalf of customers

Advisory - we provide investment banking and advisory services

Bancassurance - we provide short and longterm insurance products

Foreign exchange and trade finance - we provide currency access to global markets



Specialised finance

Foreign exchange and trade finance


Wealth management

Asset management

Unit trust management


Property development and evaluation



Customer waiting time

Losses due to internal errors


We have a dynamic business model to create and preserve value while remaining true to our purpose




We have long-standing and new customers across all segments in Namibia and Botswana

We contract with a range of reliable suppliers

Customer loyalty: Bank Windhoek is the largest locally owned bank and the second largest commercial bank in Namibia

Bank Windhoek has a 33.8% market share and Bank Gaborone a 7.4% market share in loans and advances

The Foundation and Changemaker initiatives contribute to communities in need

The Capricorn brand is recognised in the region

  • We are increasing our investment in social and relationship capital as we support stakeholders in need


More people are banking and insured

We make positive community impacts through the Foundation and Changemakers

The number of transactions increased

Our Net Promoter Score decreased to 39%

Bank Windhoek received more awards

  • A wider variety of products and services will be linked to the Capricorn Group brand and underlying entities
  • Products and services will be simplified and easy to access
  • Less waiting time for clients and better customer experiences
  • Offerings will be more competitive and cost effective
  • New clients in new markets/segments
  • New partnerships across banking and digital
  • Shifts in priorities and CSI based on stakeholder feedback and responses




2,019 permanent employees

N$3.9 million training investment to upskill employees

  • We anticipate potential scarcity in digital and data analysis skills in the short to medium term


Employee turnover annualised at 4%

Vacancies have been frozen

Absenteeism at 37.9% (due to COVID-19)

46% fully engaged employees (Mirror survey)

9,496 employees received training

  • More jobs created
  • Higher skills levels in data and digital
  • One team culture across subsidiaries
  • More diversified, inclusive and equity-representative teams
  • Improved workplace based on brand, communication audits and ethics survey




Over 220 years’ collective board member experience

We have a Risk Culture and 14 principal risks, each with a risk owner

We drive ethics awareness and behaviour through the Group Code of Ethics and Conduct Policy, The Capricorn Way and Suppliers Code of Conduct

We launched a distribution transformation programme

  • We are increasing our investment in digital transformation over the next few years in line with our strategic choices


New capabilities launched via bank and MyCapricorn apps

NPLs mitigated through effective and proactive processes

Limited losses due to financial crime

  • More client data will be available for analysis and insights
  • Distribution transformation programme will create a bank for the future
  • King IV™ will be fully embedded in all subsidiaries




Retained income of N$5.7 billion (2020: N$5.5 billion)

Total assets of N$56.0 billion

Total loans and advances of N$40.8 billion

Total deposits of N$40.2 billion

CAM AUM of N$31.8 billion

  • Liquidity and funding will remain constrained in the short to medium term, which limits the capital available for investment in growth projects


Value created for all stakeholders (see value added statement) and dividends paid

Cost-to-income ratio up to 53.5%

Return on equity of 13.5% increased

Capricorn Group remains well capitalised

Profit from continuing operations increased by 1.2%

Business development plans are progressing

  • More diversified income streams with less exposure to interest rates
  • Scale achieved in Botswana will have positive cost impact based on transaction volumes
  • Strong growth from new ventures making a material contribution to operating profit
  • Available and optimised capital and funding




12 branches/agencies, 17 ATMs, (including NCRS), 8 NCR ATMs, 384 merchants and 635 POS devices

24-hour customer contact centre

IT systems and business continuity facilities

Digital banking, apps and other platforms


Capricorn Group’s footprint increased

Lower levels of cash in branches as more customers use digital banking

  • Expanded digital footprint and capabilitie
  • Scalable digital offerings/platforms




Environmental and Social Management System

Water, energy and paper

  • Climate impacts from physical and transition risks and infrastructure quality might become a business constraint in the medium to long term


Green Bond issuance of N$66 million and Sustainability Bond issuance of N$227 million since 2018

Solar Photovoltaic (PV): N$256 million

Sustainable Agriculture: N$10.75 million

  • Operational efficiency will optimise resource use
  • Bank Windhoek will remain a leader in sustainable financing