The Capricorn Foundation says it has invested N$11.1 million into various projects to improve education and support vulnerable communities across Namibia.
The Foundation is the main driver of Capricorn Group’s Corporate Social Responsibility (CSR) initiatives. The Foundation received N$11,158,137 in donations from subsidiaries of the Capricorn Group for the financial year 2024.
Speaking at the official launch of Capricorn Group’s 2024 Social Value Report, Capricorn Group Executive for Brand and Corporate Affairs, Marlize Horn, said of the total investment, N$5.1 million was allocated to education initiatives, focusing on early childhood development, primary and secondary education.
Horn said N$2.6 million was directed towards vulnerability programmes aimed at addressing food insecurity and supporting those most affected by poverty.
“The past year we invested heavily in education and vulnerability programmes, with N$5.1 million allocated towards education projects and N$2.6 million into vulnerability programmes. The Foundation is committed to tackling the greatest needs facing Namibia’s youngest generations and therefore investing in quality education from early childhood development, primary and secondary education, remains a priority,” she said.
Additionally, the foundation also invested N$300,000 and N$1,000,000 into health and sustainability initiatives respectively, and N$2.1 million into economic advancement.
Horn said in total, Capricorn Foundation contributed N$25.8 million to CSR initiatives in Namibia and Botswana, marking a 19.1% increase from the N$21.7 million invested in 2023.
“This year, we increased our CSR contributions, built relationships with long-standing and new partners and rethought how we will measure our impact in the future. Overall, the Group, including the Capricorn Foundation, invested N$25.8 million in CSR initiatives in Namibia and Botswana, up 19.1% from the N$21.7 million invested in 2023,” she 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, 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.
The company also holds 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 an over 30% stake in Paratus Group Holdings Ltd.
