Capricorn Group, and its subsidiaries in Namibia and Botswana, says it invested N$15.4 million in corporate social responsibility initiatives in the year ending 30 June 2022.
This represents 1.3% of the Group’s profit after tax which is in line with the Group’s CSR policy guideline of 1% of profit after tax.
“The first standalone Social Value Report of Capricorn Group reflects our approach to corporate social responsibility (CSR) and outlines the activities of the Capricorn Group, as well as the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo and Bank Gaborone. For the Group, CSR means doing the right thing, for the right reasons,” said Marlize Horn, the Group Executive for Brand and Corporate Affairs and Executive Officer of the Capricorn Foundation.
“As we emerge from the Covid-19 pandemic, our country needs CSR investment more than ever and there is tangible enthusiasm for making a positive difference in communities. There is still much that can be done to address the needs of society, but with every action taken, we are one step closer to creating a better tomorrow for everyone. Establishing the Capricorn Foundation in February 2020 as a registered non-profit organisation, significantly enhanced the strategic focus and impact of the Group’s CSR investments. Over the past two years the Foundation has positioned itself as a thought leader in CSR with a portfolio of 16 impactful projects operating across Namibia.”
The Capricorn Group, which recorded an after-tax profit of N$1.15 billion for the year ended 30 June 2022, said it spent N$1.2 billion on the remuneration of more than 2,000 employees who receive rewards, recognition and opportunities for career and personal development.
