The Capricorn Group has announced that its Group Chief Executive Officer, Thinus Prinsloo, will be leaving the group to assume a new role at Capricorn Investment Holdings (CIH), the largest shareholder in the group.
“I am excited about the new opportunity offered to me at CIH, the largest shareholder in Capricorn Group. I am immensely proud of Capricorn Group and what we have achieved in terms of creating consistent value for all our stakeholders since our listing a decade ago, notwithstanding often difficult operating conditions. We have a strong brand with a positive reputation and deep relationships with our stakeholders. I am particularly proud of the consistent positive financial performance of the Group since 2016. I look forward to new opportunities in my role at CIH and to continue to seek ways to create value for our stakeholders,” Prinsloo said on Tuesday.
The transition, according to Gerhard Fourie, Chairperson of the Board of Directors of Capricorn Group, will only take place once the financial services group has successfully recruited a successor.
“The Board of Directors would like to express their sincere gratitude to Thinus for his contribution to the growth and success of Capricorn Group and wish him the very best for the future as he takes up a new role at CIH. He has laid a very strong foundation for Capricorn Group’s future, which will serve us well as we embark on our new strategic cycle. We are grateful that the Group will continue to benefit from Thinus’s vast experience in the financial services industry in the region,” said Fourie.
Prinsloo, who has led the listed group for over seven years, began his career with the Group when he was appointed as Executive Director at CIH in 2011.
He has overseen the Group’s expansion, including investments in Entrepo Holdings and Paratus Holdings in Namibia, as well as Peo Finance established in Botswana as part of a deliberate diversification strategy.
Capricorn Group, a Namibian listed company, acts as an investment holding company and provides consulting and support services to other group companies.
Its primary investments consist of 100% shareholdings in Bank Windhoek Ltd (BW), Namib Bou (Pty) Ltd, Capricorn Capital (Pty) Ltd, Capricorn Investment Group (Pty) Ltd, and Capricorn Hofmeyer Property (Pty) Ltd.
The company holds an 84.8% share in Capricorn Investment Holdings (Botswana) Ltd, which in turn holds 100% of the share capital in Bank Gaborone Ltd (BG) and Peo Finance (Pty) Ltd.
It also holds a 95.7% stake in Capricorn Asset Management (Pty) Ltd and Capricorn Unit Trust Management Company Ltd, a 55.5% share in Entrepo Holdings (Pty) Ltd (Entrepo) which owns 100% of Entrepo Life Ltd and Entrepo Finance (Pty) Ltd, a 29.5% stake in Sanlam Namibia Holdings (Pty) Ltd, a 28% stake in Santam Namibia Ltd, and a 30% stake in Paratus Group Holdings Ltd.
