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Group Profile and Structure GROUP PROFILE AND STRUCTURE WHO WE ARE Capricorn Group at a glance Capricorn Group is a diversified financial services group based in Windhoek, Namibia. We provide strategic guidance, oversight and support to our subsidiaries, whose operations are primarily focused on banking, insurance, wealth and asset management, and finance. Registered as: Capricorn Investment Group Limited 84.3% 100% 29.5% 97.9% Capricorn Investment Sanlam Namibia Cavmont Capital Bank Windhoek Ltd Holdings (Botswana) Ltd Holdings (Pty) Ltd Holdings Zambia PLC 100% 100% 28% 100% Bank Gaborone Ltd Capricorn Asset Santam Namibia Ltd Cavmont Bank Ltd Management (Pty) Ltd BOTSWANA ZAMBIA 100% 30% Capricorn Unit Trust Nimbus Management Company Ltd Infrastructure Ltd Acquired in 2018 100% Namib Bou (Pty) Ltd 100% Capricorn Capital (Pty) Ltd Launched in 2018 55.5% Entrepo Holdings (Pty) Ltd Acquired in 2018 NAMIBIA Epupa Falls, Kaokoveld GROUP PROFILE AND STRUCTURE 15 WHO WE ARE continued A wide spectrum of financial solutions for business clients includes structured finance, working capital finance as well as tailor-made term financing options. Bank Windhoek offers a wide range of treasury services, including money market and foreign currency exchange services. BARONICE HANS Our international banking services comprise foreign payment Managing director products, trade finance and foreign currency accounts. I AM inspired by the dedication, resilience Our bancassurance options include short-term, life, travel and and tenacity of the Bank Windhoek team as commercial insurance, and guarantees. together we translate vision into reality. One of the biggest highlights of the 2019 financial year has been when we became the first commercial bank in southern Africa to issue a green bond and the international recognition we received for WINDHOEK, NAMIBIA winning this year’s Green Bonds Pioneer Award from Climate Bonds. HEAD OFFICE As part of Bank Windhoek’s customer-centric strategy to ensure 1982 that the bank caters for the evolving needs of customers and to continuously enhance the customer experience, the bank revised a Date of establishment number of the customer value propositions (CVPs) for its target 1,575 segments during the reporting period. Number of permanent employees 2018: 1,449 Our recently launched contact centre expanded its service offering 69% to include: Contribution to group profit after tax 2018: 86% • cellphone banking registrations • converting clients from paper to electronic statements Bank Windhoek Ltd • dedicated internet banking support service for the branches Bank Windhoek, a fully-fledged bank and the flagship brand of Bank Windhoek’s private banking offering is provided through the Capricorn Group, is the largest lender in Namibia. Capricorn Private Wealth, a joint venture between Bank Windhoek Bank Windhoek offers a wide range of banking products and and Capricorn Asset Management, which caters to the wealth and services covering the personal, corporate, small and medium investment needs of the affluent market. enterprises market segments. Our offering includes transactional, investment and lending products, as well as digital and electronic banking services. 16 2019 Integrated Annual Report Bank Gaborone Ltd Since commencing operations in 2006, the bank has expanded its network to 12 branches and 4 BG finance offices countrywide, offering an increasingly broader range of products and services in response to market needs. To increase branch efficiency and branch SYBRAND COETZEE focus on sales, the back-office operations of all branches were Managing director centralised. Additionally, the bank has opened the group’s first ‘branch of the future’ which diversifies the services offered to clients I AM passionate about leading growth in within the branch. both our business and our people. Great Bank Gaborone offers personal and corporate products and services people connect clients to great service. tailored to different market segments: • Deposit accounts for individuals and businesses including current, savings, investment and call accounts as well as foreign GABORONE, BOTSWANA exchange products and services HEAD OFFICE • Loan accounts including vehicle and asset finance, home and 2006 building loans, unsecured lending through BG Finance, Date of establishment commercial loans and overdraft facilities. 295 • Bancassurance including short- and long-term insurance Number of permanent employees 2018: 289 • Electronic channels including internet banking, mobile banking and SMS notifications. 5% During the past financial year, the bank increased its market share Contribution to group profit after tax 2018: 6% to 7.5% and aims for medium term growth to a 10% share. Cavmont Bank Ltd Cavmont Bank is a 100% subsidiary of Cavmont Capital Holdings Zambia Plc (CCHZ) and was established in 2004. CCHZ listed on the Lusaka Stock Exchange (LuSE) in September 2006. Cavmont Bank provides corporate, investment, retail and community banking PEET VAN DER WALT services. Its personal, business, treasury and credit products include: Managing director • personal savings, transaction and loan products I AM a leader who works with the Cavmont • business transaction and loan products team to deliver sustainable results. • foreign exchange trading and deposit accounts Cavmont Bank offers its customers various investment products, ranging from term and fixed deposits to asset-backed securities. Payment solutions include real-time gross settlement, direct debit LUSAKA, ZAMBIA and credit clearing, as well as foreign exchange services. It offers HEAD OFFICE the e-Cavmont internet banking facility. 2004 Date of establishment 308 Number of permanent employees 2018: 324 GROUP PROFILE AND STRUCTURE 17 WHO WE ARE continued CAM is a leading, fully Namibian-owned asset management firm aiming to meet the investment needs of individual investors, financial advisers, businesses and institutional investors, including pension funds and insurance companies. It manages investments covering all major asset classes in markets around the world. TERTIUS LIEBENBERG Capricorn Private Wealth, a combined offering of CAM and Managing director Bank Windhoek, focuses on servicing the needs of the affluent market segment of the Capricorn Group in one integrated offering. I AM a Servant Leader who empowers my The specific services CAM offers as part of this unique offering are team. investment advisory, financial planning, estate planning and fiduciary services. CAM is also a leading unlisted investment manager with a specific focus on debt financing. The Caliber Capital Trust is an approved WINDHOEK, NAMIBIA unlisted special-purpose vehicle in terms of regulation 29 of the HEAD OFFICE Pension Funds Act, 24 of 1956. It provides Namibian pension funds and other institutional investors with an alternative to unlisted 2006 equity investments to diversify risk. The Caliber Capital Fund invests Date of establishment in Namibian companies that aspire to the aims of the Harambee 43 Prosperity Plan and Vision 2030, which include job creation, import replacement and industry and infrastructure development. Number of permanent employees 2018: 43 The Capricorn Unit Trust Fund range was established in 2000 with 4% the launch of the Capricorn Selekt Fund. CUTM has been the market Contribution to group profit after tax 2018: 5% leader since 2004 in terms of assets under management in the N$26.3 billion unit trust sphere. With total assets under management of nearly Assets under management 2018: N$22.2 billion N$20 billion, CUTM’s latest market share is approximately 31% with 13 unit trusts covering all major asset classes, including cash, bonds, property, equity and international equities. Capricorn Asset Management (Pty) Ltd and Capricorn Unit Trust Management Company The group’s asset management activities are conducted under two legal entities: Capricorn Asset Management (CAM) and Capricorn Unit Trust Management Company (CUTM). All administration and asset management activities of CUTM funds are performed by CAM. 18 2019 Integrated Annual Report We offer bespoke, integrated and intelligent solutions in the following areas: Corporate fi nance • Mergers and acquisitions MARK DURR • Divestitures • Recapitalisations Managing director • Restructuring I AM positive about the future and see • Sovereign advisory problems as challenges to overcome and • Valuations and due diligence opportunities to grow. • Strategic advice Capital markets WINDHOEK, NAMIBIA • Equity capital market advisory HEAD OFFICE • Debt capital market advisory 2018 • Debt and equity private placements Date of establishment • Placement with alternative investors through Neu Capital Africa 7 • Strategic capital and minority investments Number of permanent employees 2018: 3 Specialised fi nance • Project finance Capricorn Capital • Leveraged finance Capricorn Capital is a wholly owned subsidiary of the • Acquisition finance Capricorn Group. It offers its southern African investment banking • Structured products advisory services from offices in Windhoek and Johannesburg. • Structured credit and derivatives Capricorn Capital’s core investment banking advisory services • Tax structuring include the provision of strategic, corporate finance, capital raising and specialised financial advice to public and private companies, private equity firms, family offices and governmental and other bodies located in or wishing to invest in southern Africa. It includes southern African entities seeking strategic investors or acquisition targets abroad. Capricorn
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