Capricorn Group has announced the appointment of David Nuyoma as Group Chief Executive Officer, effective 1st March 2024, subject to regulatory approval.
He takes over from Thinus Prinsloo, who has led the listed group for over seven years.
Prinsloo will remain in his current position until 29th February 2024, during which time he will hand over responsibilities to Nuyoma and execute the orientation program and induction process in collaboration with the Group Chairman and the Group Executive Management Team.
Nuyoma previously served as the CEO of the Government Institutions Pension Fund (GIPF) and the Development Bank of Namibia, respectively.
“His forward-thinking mindset, excellent stakeholder relations, and demonstrated ability to make business-shaping decisions and lead sustainable operations will add value to Capricorn Group and its stakeholders as the Group continues to evolve its strategic direction and execute its chosen strategic choices,” said Chairman of the Capricorn Group Board, Gerhard Fourie.
“We are privileged to have attracted David Nuyoma to our Group. He is one of the most respected business leaders in Namibia, and we are confident that the Group will greatly benefit from his leadership. We wish him the very best for success in his new role.”
Fourie also extended the board and management’s appreciation to outgoing CEO Thinus Prinsloo for his valuable contribution to the growth and success of the Capricorn Group during his tenure.
“We wish Thinus the very best for the future as he takes up his new role at Capricorn Investment Holdings, the largest shareholder of Capricorn Group. As part of the process for a smooth leadership transition,” he said.
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.
