Capricorn Group has announced that Bank Gaborone Managing Director Olebile Makhupe will leave the Botswana-based banking subsidiary at the end of August, less than three years after taking up the role.
The Namibia Securities Exchange-listed financial services group said Makhupe will step down on 31 August 2026 to pursue other strategic interests and priorities.
Her resignation was acknowledged by the Bank Gaborone board during a meeting held on 28 May 2026.
Makhupe joined Bank Gaborone as Managing Director in July 2023 and also served on Capricorn Group’s Executive Committee.
Capricorn Group Chief Executive Officer David Nuyoma said Makhupe had played an important role during a challenging period for both the bank and the broader Botswana economy.
“Since joining the Group in February 2023, Makhupe has been a valued member of the Group Executive Committee and has provided steady leadership during an important period for both Bank Gaborone and the broader Botswana operating environment. Capricorn Group thanks her for her contribution, professionalism and commitment, and wishes her well in her future endeavours,” Nuyoma said.
The group said Makhupe will remain with the bank over the coming months to ensure an orderly handover of responsibilities and support a smooth leadership transition.
Capricorn confirmed that an acting managing director will be appointed in the interim while a formal recruitment process for a permanent successor is underway.
Makhupe was appointed to lead Bank Gaborone in July 2023, bringing more than 22 years of experience in the financial services and broader corporate sectors.
Bank Gaborone, which was established in 2006, has grown to a network of 12 retail branches across Botswana and remains one of Capricorn Group’s key regional banking operations
