Capricorn pumps millions into welfare projects
Locally-listed Capricorn Group invested N$21.7 million in social responsibility programmes and projects in Namibia and Botswana in the year ended 30 June 2023 – about 33% or N$5.4 million than its previous book-year.The group, which includes the Capricorn Foundation and Capricorn subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo and Bank Gaborone, released its annual Social Value Report yesterday.
"As the private sector, we have a crucial role in spurring economic growth and development,” said Gerhard Fourie, chairperson of Capricorn Group.
The report emphasised the 32 projects supported by the Capricorn Foundation. The foundation was established in February 2020 as a non-profit company and registered welfare organisation to act as the main vehicle of Capricorn Group’s corporate social responsibility (CSR) programmes.
Projects
The foundation focused on many projects during the past year, but two of its primary focus areas include education and food security.
The Capricorn Foundation Food Waste Challenge is the first signature project of the foundation and has been hugely effective in creating broad awareness of the issue of food waste that contributes to food insecurity.
Other projects include Amos Meerkat Syllabus, The African Child Development Trust (ACDT), Women at Work, Omba Arts Trust, Namibia Children’s Heart Trust, Ride the Ridges, as well as Men on the Side of the Road (MSR).
‘Not just paying an invoice’
“The work we do is more than just about paying an invoice,” said Marlize Horn, group executive: brand and corporate affairs and executive officer of the Capricorn Foundation.
She continued: “We consider the Namibian CSR landscape to understand the key role players, what socioeconomic challenges are being addressed and where we can work and collaborate with partners. There is so much that can be done to address the needs of society, but with every action taken, we take one step closer to creating a better tomorrow.”
Fourie said the foundation will continue to search for more signature projects that will significantly impact communities.
“We are strong advocates for collaboration, and during the past year, we experienced the power of like-minded organisations from various sectors working together to find solutions for common problems. There is ample opportunity for even more collaboration to address the social challenges we experience in Namibia and Botswana,” he said.
Unemployment is a key social challenge, with the biggest unemployment demographic in Namibia being the youth.
“As Capricorn Group, we are determined to identify channels for economic enhancement and job creation, such as vocational training programmes and skills development initiatives that will improve the economic prospects of young people," Fourie said.