our value creation summary

The inputs for our business model


All our services and offerings rely on the flow of money. We collect money through funding mechanisms such as bonds, deposits, dividends and reinvestments. We use money responsibly in our engagement with clients to facilitate transactions, to earn interest and to invest, while also applying it in the group to make acquisitions and distributions. For example, we distribute financial capital through dividends, taxes, remuneration and payments to suppliers. It is our business to increase financial capital.

Read more in the financial director’s review.


Our purpose statement emphasises our role as a Connector of Positive Change. This implies relationships, knowledge and ethical behaviour reflecting stakeholder-inclusive thinking. We engage with our stakeholders to increase this capital through innovation, service improvement and empowerment that collectively bring positive change. By using and increasing the quality of these capitals we can identify and address anything that prevents value creation while increasing systemic awareness and responsiveness.

Read more in the section on our material matters.


Our branches, offices, call centre, ATMs, cash express machines, cash and coins form part of the physical infrastructure and items that we use to operate in three countries. It gives us a base to interact with clients in a secure and convenient way. Our Nimbus acquisition gives us access to expanding data facilities and networks that provide digital infrastructure for online and mobile offerings. In addition, IT Infrastructure is a critical component to delivering our services to our customers and improving our system performance and stability. In this regard we have significantly invested in our countries of operation to upgrade and expand our IT infrastructure by adding capacity to our country networks and upgrading our data centres with the latest IT hardware and systems software. We have also commissioned new services from our telecommunication partners and have implemented a high-speed/high-capacity Data Ring connecting our three countries and South Africa. This has significantly improved our service delivery to our customers and also our systems availability, stability and performance.

Read more in the section on our eight material matters.


We are a relatively modest consumer of natural resources in our business activities, but the indirect impact of natural disasters such as drought can affect our business significantly. We provide credit and insurance to businesses that rely predominantly on natural resources and are at risk of climate change impacts. These include industries such as mining, agriculture, fishing and construction. We manage our exposure through an Environmental and Social Management System, which guides credit allocation and lending activities. We measure direct use such as water and electricity at the group’s three main buildings in Windhoek to track our efforts to reduce use. This year Bank Gaborone moved into a new head office, which, once certified, will be the first Green Building Council of South Africa green star-rated building in Botswana.

Read more in the section on our eight material matters.


Our brand proposition states that we are catalysts of sustainable opportunities. Thus, there is an opportunity to be a catalyst in everything we do. Ultimately, our success as a group enables us to reinvest in the development of the economies in which we operate. We are recognised as a responsible corporate citizen, contributing to socioeconomic development, yet we aspire to do better and give more because we care about the future of the people whom we serve. This is why our vision is to be a Connector of Positive Change, linking our identity and ethos to the well-being of our country.

Value creation is a dynamic process of connections, decisions and change. We rely on The Capricorn Way, our four strategic choices and material matters to guide us in making this process sustainable.

The circumstances under which we operate are dynamic and complex within a system of markets, regulators and social and environmental challenges. Read more about our operating contexts in Namibia, Botswana and Zambia.

Our material matters describe the internal and external risks and opportunities that we face as a group. By attending to these we are able to create sustainable value.

Our four strategic choices take the future availability of resources into account when directing us towards impact decisions and trade-offs. The board’s authorities framework clearly states roles and responsibilities for these decisions. Our remuneration framework ensures that performance is linked to the successful implementation of our strategy.

Synergies between our different business units mean that we can offer combined packages such as bancassurance, private wealth and investments, and specialised finance. These interdependent relationships increase our customer intimacy and market share, and enable us to act as Connectors of Positive Change in practice.

In an interconnected, dynamic operating environment, we make strategic choices that result in trade-offs between different stakeholders’ interests over varying periods of time. Where these choices are made deliberately, we can mitigate value destruction and ensure that we act ethically. Trade-offs surface, for example, in the annual budget process when we have to divide limited resources between competing departments, activities and employee needs.