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.



Bank Windhoek Ltd

Bank Windhoek, a fully-fledged bank and the flagship brand of the Capricorn Group, is the largest lender in Namibia.

Bank Windhoek offers a wide range of banking products and services covering the personal, corporate, small and medium enterprises market segments. Our offering includes transactional, investment and lending products, as well as digital and electronic banking services.

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.

Our international banking services comprise foreign payment products, trade finance and foreign currency accounts.

Our bancassurance options include short-term, life, travel and commercial insurance, and guarantees.

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 winning this year’s Green Bonds Pioneer Award from Climate Bonds.

As part of Bank Windhoek’s customer-centric strategy to ensure that the bank caters for the evolving needs of customers and to continuously enhance the customer experience, the bank revised a number of the customer value propositions (CVPs) for its target segments during the reporting period.

Our recently launched contact centre expanded its service offering to include:

  • cellphone banking registrations
  • converting clients from paper to electronic statements
  • dedicated internet banking support service for the branches

Bank Windhoek’s private banking offering is provided through Capricorn Private Wealth, a joint venture between Bank Windhoek and Capricorn Asset Management, which caters to the wealth and investment needs of the affluent market.



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 focus on sales, the back-office operations of all branches were centralised. Additionally, the bank has opened the group’s first ‘branch of the future’ which diversifies the services offered to clients within the branch.

Bank Gaborone offers personal and corporate products and services tailored to different market segments:

  • Deposit accounts for individuals and businesses including current, savings, investment and call accounts as well as foreign exchange products and services
  • Loan accounts including vehicle and asset finance, home and building loans, unsecured lending through BG Finance, commercial loans and overdraft facilities.
  • Bancassurance including short- and long-term insurance
  • Electronic channels including internet banking, mobile banking and SMS notifications.

During the past financial year, the bank increased its market share 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 services. Its personal, business, treasury and credit products include:

  • personal savings, transaction and loan products
  • business transaction and loan products
  • 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 and credit clearing, as well as foreign exchange services. It offers the e-Cavmont internet banking facility.



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.

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.

Capricorn Private Wealth, a combined offering of CAM and Bank Windhoek, focuses on servicing the needs of the affluent market segment of the Capricorn Group in one integrated offering. The specific services CAM offers as part of this unique offering are 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 unlisted special-purpose vehicle in terms of regulation 29 of the Pension Funds Act, 24 of 1956. It provides Namibian pension funds and other institutional investors with an alternative to unlisted equity investments to diversify risk. The Caliber Capital Fund invests in Namibian companies that aspire to the aims of the Harambee Prosperity Plan and Vision 2030, which include job creation, import replacement and industry and infrastructure development.

The Capricorn Unit Trust Fund range was established in 2000 with the launch of the Capricorn Selekt Fund. CUTM has been the market leader since 2004 in terms of assets under management in the unit trust sphere. With total assets under management of nearly 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 Capital

Capricorn Capital is a wholly owned subsidiary of the Capricorn Group. It offers its southern African investment banking advisory services from offices in Windhoek and Johannesburg.

Capricorn Capital’s core investment banking advisory services 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 Capital follows a collaborative model, leveraging its global relationships to partner with leading industry and sector specialists to provide an unparalleled level of attention and expertise to its clients, placing them in the best position possible to achieve their desired outcomes.

We offer bespoke, integrated and intelligent solutions in the following areas:

Corporate finance

  • Mergers and acquisitions
  • Divestitures
  • Recapitalisations
  • Restructuring
  • Sovereign advisory
  • Valuations and due diligence
  • Strategic advice

Capital markets

  • Equity capital market advisory
  • Debt capital market advisory
  • Debt and equity private placements
  • Placement with alternative investors through Neu Capital Africa
  • Strategic capital and minority investments

Specialised finance

  • Project finance
  • Leveraged finance
  • Acquisition finance
  • Structured products
  • Structured credit and derivatives
  • Tax structuring


Entrepo Holdings (Pty) Ltd

Entrepo is a focused financial services group providing lending and credit protection products to government employees in Namibia. Its business activities are conducted through two separate legal entities, regulated by the Namibia Financial Institutions Supervisory Authority (NAMFISA): Entrepo Finance (Pty) Ltd, a registered lender, and Entrepo Life Ltd, a registered long-term insurer.

Entrepo’s tailor-made products are simple and clear, competitively priced and provide comprehensive and suitable benefits to its chosen target market. Entrepo Finance is a responsible lender and accepts loan applications that are considered against clear and unassailable rules regarding affordability and minimum take-home pay. As security against the loan, a client may choose to take out Entrepo Life’s credit protection product, which offers excellent death, disability, funeral and job-loss protection benefits.

More information on our associates is available online:

Nimbus Infrastructure Ltd Nimbus.africa
Sanlam Namibia Holdings (Pty) Ltd www.sanlam.com/namibia
Santam Namibia Ltd www.santam.na