Capricorn Group invests N$21,7 million in social responsibility programmes and projects
Capricorn Group, including the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo, and Bank Gaborone, have invested N$21,7 million (2022: N$16,3 million) in social responsibility programmes and projects in Namibia and Botswana for the period ending 30 June 2023,
This is according to the Group’s Social Value Report which was released this week and reflects its corporate social responsibility (CSR) approach and philosophy.
“As the private sector, we have a crucial role in spurring economic growth and development. We are strong advocates for collaboration, and during the past year, we experienced the power of like-minded organisations from various sectors working together to find solutions for common problems. There is ample opportunity for even more collaboration to address the social challenges we experience in Namibia and Botswana. One of these social challenges is unemployment, with the biggest unemployment demographic in Namibia being the youth. As Capricorn Group, we are determined to identify channels for economic enhancement and job creation, such as vocational training programmes and skills development initiatives that will improve the economic prospects of young people,” said Gerhard Fourie, Chairperson.
“As a Group, we are socially responsible and strongly obliged to our stakeholders. In keeping with our brand promise of being Connectors of Positive Change, we take pride in the value we create through our CSR initiatives by positively impacting lives,” said Marlize Horn, Group Executive: Brand and Corporate Affairs and Executive Officer of the Capricorn Foundation.
She added, “The work we do is more than just about paying an invoice. We consider the Namibian CSR landscape to understand the key role players, what socioeconomic challenges are being addressed, and where we can work and collaborate with partners. There is so much that can be done to address the needs of society, but with every action taken, we take one step closer to creating a better tomorrow.”
Capricorn Group reiterated its commitment to be open, transparent, and accountable in reporting its CSR programmes and their impact through the Capricorn Foundation and its subsidiaries, which also support and facilitate their projects.
The Capricorn Foundation has grown from strength to strength since its launch in 2020. In 2023, the Foundation dedicated time and resources towards building networks and enhancing stakeholder engagement. The Foundation focused on many projects the past year, but two of its primary focus areas include education and food security. The Capricorn Foundation Food Waste Challenge is the first signature project of the Foundation and has been hugely effective in creating broad awareness of the issue of food waste that contributes to food insecurity. The Foundation will continue to search for more signature projects that will significantly impact our communities.
“The Capricorn Foundation has made great strides in executing its mandate over the past three years as the main vehicle of the Group’s CSR. We are grateful to our numerous partners who continue to collaborate with us in the communities where we operate. I would also like to thank the hundreds of Capricorn Group employees, who in their roles as Changemakers, continue to dedicate their time and personal resources to impact the lives of others positively,” concluded Gerhard Fourie, Capricorn Foundation Chairperson.