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Doing the right thing for the right reasons – Capricorn launches foundation

Doing the right thing for the right reasons – Capricorn launches foundation

Capricorn Group this week formalised its corporate social investment under a new banner, the Capricorn Foundation which will be funded by the Group and its Namibian operating entities. The foundation does not replace its operational predecessor, the Bank Windhoek Social Investment Fund, but the latter will be the foundation’s primary funder while continuing to support a number of ongoing high-profile projects.

The Foundation will also solicit funds from other donors, individuals and organisations which share its vision, goals and philosophy. In future it will be the Group’s only vehicle to channel its corporate social investments.

Capricorn Group Executive for Brand and Corporate Affairs, Marlize Horn will head the foundation in an acting capacity until a formal Chief Executive is appointed.

“She will work closely with a Management Committee that will be established as well as with the Board of the Capricorn Foundation, to coordinate and manage the day-to-day running of the Foundation and to ensure that the proper governance processes are implemented in line with the Group’s Corporate Social Responsibility Policy,” the Group said in a statement announcing the launch of the foundation.

Amongst others, the foundation will focus on economic advancement, education and training, and on projects that support vulnerable groups in society. Furthermore, it will support sustainability programmes that contribute to the United Nation’s Sustainable Development Goals.

Group Chairman, Johan Swanepoel said “For Capricorn Group and its subsidiaries, Corporate Social Responsibility refers to our Group’s sense of responsibility to the communities in which we operate, and commitment to integrate social concerns into our business operations. This sense of responsibility helps us to be socially accountable to ourselves and our stakeholders and to minimize any negative effects on society so that we make an overall positive impact. For us, Corporate Social Responsibility simply means: Doing the right thing, for the right reasons.”

Capricorn Group executives, from the left, Marlize Horn, Johan Swanepoel and Gida Sekandi at the launch of the Capricorn Foundation earlier this week.


 

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