The Capricorn Group on Tuesday broke ground on the construction of a new 13-story office building in Windhoek’s central business district.
The building, being constructed at the corner of Independence Avenue and Kasino Street, is expected to be completed by June 2026, will create more than 250 local jobs and support local businesses that will supply materials and a range of services during the construction phase of the development alone.
Upon completion of the construction, the new building will accommodate more than 200 employees from Capricorn Group and its subsidiary, Bank Windhoek.
“The Bank Windhoek Main Branch, which has been located in the Bank Windhoek Head Office building next door for 42 years, will be moved to this new building. This move will provide customers with an enhanced and modern banking and customer service experience,” the Group said.
Capricorn Group said the yet-to-be-formally-named building has been meticulously designed to symbolize the Group’s achievements of more than four decades and to accommodate the growing need for office and parking space.
“In line with the Group’s purpose to be Connectors of Positive Change, the building’s design incorporated innovative practices to minimize environmental impact and maximize energy efficiency. Adhering to world-class Green Building standards, the development is a testament to Capricorn Group’s commitment to promoting sustainable practices,” the financial services group said.
Johan Swanepoel, Chairperson of the Board of Directors of Bank Windhoek, said the jobs created during the construction phase will bolster the local economy, enhance the livelihoods of residents, and ultimately contribute to a robust and prosperous community.
“Our Group’s legacy and heritage are deeply rooted in this piece of land. With this development, we are contributing to a continued legacy of positive change. As part of this commitment to positive change, we are determined to breathe new life into the heart of our community at this intersection of history and progress. We will explore ways to rejuvenate the space around our new building, for the benefit of our employees, customers, and the community,” Swanepoel said.
Bank Windhoek Managing Director, Baronice Hans, said the bank, as the anchor tenant, had been given the opportunity to provide input into the design and layout of the building, ensuring that the needs of its employees and customers have been taken on board.
“I would like to extend my heartfelt gratitude to our future landlord for their vision and collaboration on this project. This new space will not only create an enhanced working environment for our employees but also world-class facilities for our customers,” she said.
Speaking at the groundbreaking ceremony, Capricorn Group CEO David Nuyoma said, “Today (Tuesday), we’re not just breaking ground on a new development; we’re laying the foundation for an exciting new chapter in the story of our financial services group. This groundbreaking ceremony symbolizes our progress and relentless pursuit of innovation and positive change while remaining firmly rooted in our heritage and values. We’re not simply investing in a structure of bricks and mortar; this project represents a significant investment in our beloved city’s economic and cultural fabric. Our commitment is to ensure that this development fosters growth and prosperity for the community, enriching the lives of future generations. As we stand here today, we celebrate the beginnings of what will become a new landmark in the heart of Windhoek—a city that has been our home since 1982 and has borne witness to our growth and evolution.”
