Bank Gaborone has been a star performer in Capricorn Group this year, contributing 6 percent to the group’s profit after tax, Group’s Managing Director Thinus Prinsloo has revealed.Speaking during the official opening of Bank Gaborone head office, Prinsloo indicated that Bank Gaborone posted very solid results for the period ending 30 June 2018 and contributed 6 percent compared to a 4 percent contribution in 2017.
He revealed that in a few months period, Bank Gaborone has expanded its footprint in Botswana with the opening of the Kasane branch and more expansions planned in the next year. “During the past financial year, our Group increased its shareholding in Capricorn Investment Holdings Botswana, which is the holding company of Bank Gaborone, with 15.6 percent to 84.3 percent.
We therefore have vested interest in the success and future growth of Bank Gaborone. With the backing and support of Capricorn Group, the Bank has been able to venture into bigger opportunities and tap into the Group’s expertise and specialized resources,” Prinsloo stated.
Prinsloo pointed out that Capricorn Group is a diversified financial services group listed on the Namibian Stock Exchange with subsidiaries in Namibia, Botswana, Zambia and South Africa. The group’s operations are primarily focused on banking, wealth and asset management insurance, as well as microfinance, he said adding that from its head office in Windhoek, Capricorn Group provides strategic guidance, oversight and support to its subsidiaries including Bank Gaborone.
According to Prinsloo in June this year the group celebrated 5 years on the Namibian Stock Exchange and the value that they created for their shareholders and other stakeholders as a result of the listing. Over this period, he said they recorded a 96.9 percent growth in their share price, a compounded annual growth rate in profit after tax of 13.6 percent, N$1.3 billion paid out in dividends and a 130 percent total return per share since the listing in 2013.
“In September 2017, we launched the refreshed brand of Bank Gaborone with a differentiated brand promise of being Connectors of Positive Change. With the understanding that change should come from the inside, we also launched The Capricorn Way in 2017.
“The Capricorn Way is shaping a new culture for the Bank and the whole Group that encourages exceptional performance and highlights the importance of balancing economic success with social responsibility and environmental accountability.
The Capricorn Way sets out our shared beliefs, values, norms and behaviors and contributes to the culture change and sense of unity in the Group. Our employees are encouraged to keep the leadership, and each other, accountable for living The Capricorn Way,” he said