Capricorn Group
Capricorn Group Limited is a Namibian publicly listed diversified financial services holding company operating in Namibia and Botswana through subsidiaries including Bank Windhoek, Bank Gaborone, Capricorn Asset Management, and microlending units serving retail, SME, corporate, and government clients.
- Company typePublic
- Founded1982
- HeadquartersWindhoek, Namibia
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Capricorn Group does
Capricorn Group Limited is a Namibian publicly listed (NSX: CGP) diversified financial services holding company founded in 1982 and headquartered in Windhoek, Namibia. The group operates through a portfolio of regulated subsidiaries spanning commercial banking (Bank Windhoek in Namibia and Bank Gaborone in Botswana), asset management (Capricorn Asset Management and Capricorn Unit Trust Management), corporate finance (including a Johannesburg office), property holdings (Namib Bou), microlending (Entrepo, Peo Finance), insurance distribution (via partnerships with Sanlam Allianz Namibia and Santam Namibia), and strategic equity investments (Paratus Group Holdings in telecom and Alfred H Knight Group Holdings in the UK).
At the FY2025 reporting date (30 June 2025), the group carried N$72.5 billion in total assets, N$52.5 billion in gross loans and advances, N$52.9 billion in deposits, and N$57.1 billion in assets under management. It served customers through 51 Bank Windhoek branches and 186 ATMs in Namibia, and 12 Bank Gaborone branches with 25 ATMs in Botswana, supplemented by digital banking platforms. The group employed 2,161 permanent staff and reported N$1.99 billion in profit after tax, an 18.2% return on equity, an 18.1% capital adequacy ratio, and a 49.5% cost-to-income ratio.
Capricorn's revenue model blends recurring net interest income (N$3.4 billion in FY2025), fee-based non-interest income from transactional banking, subscription-style asset management fees on a growing AUM base, and recurring bancassurance commissions. The group serves retail individuals (with a 92.6% customer retention rate and 56.4% of customers over five years of tenure), SMEs, corporates, and government employees across Namibia and Botswana, with selective expansion into South Africa through corporate finance and internationally via strategic equity investments.
Capricorn Group firmographics
Firmographics- Name
- Capricorn Group
- Legal name
- Capricorn Group Limited
- Website
- https://capricorn.com.na
- Company type
- Public
- Founded year
- 1982
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Capricorn Group Limited is a Namibian publicly listed diversified financial services holding company operating in Namibia and Botswana through subsidiaries including Bank Windhoek, Bank Gaborone, Capricorn Asset Management, and microlending units serving retail, SME, corporate, and government clients.
- Ownership category
- akta.pro rank
Capricorn Group industry classification
Industry- Product category
- Diversified Financial Services
- NAICS
- Depository Credit Intermediation (5221), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Savings Institutions and Other Depository Credit Intermediation (52218), Offices of Bank Holding Companies (551111)
- SIC
- National Commercial Banks (6021), Miscellaneous Business Credit Institution (6159), Personal Credit Institutions (6141), State Commercial Banks (6022)
- akta.pro primary industry
- Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE)
- akta.pro secondary industry
- Corporate Finance & Capital Advisory (BPAHADAB)
Keywords
Where Capricorn Group is headquartered
LocationHeadquarters
- HQ city
- Windhoek
- HQ country
- Namibia
- HQ region
- Africa
Offices3 records
Markets served
Capricorn Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Net Interest Income: Interest income from loan books including term loans, mortgages and instalment finance. Drives from loan book growth of 3.7% and effective cost-of-funding management.
- Non-Interest Income: Transaction-based fee volumes, especially on digital channels, and strong growth in asset management fees at Capricorn Asset Management.
- Asset Management Fees: Fees generated through Capricorn Asset Management managing N$57.1 billion in assets under management.
- Bancassurance: Short and long-term insurance products provided through associates Sanlam Allianz Namibia and Santam Namibia.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | NSX Share Trading Costs |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
Capricorn Group product offering
Product offeringCore offering
Capricorn Group is a diversified financial services holding company that provides retail and commercial banking, asset and unit trust management, microlending, bancassurance, property development, and corporate finance advisory services across Namibia and Botswana through subsidiaries including Bank Windhoek, Bank Gaborone, Capricorn Asset Management, Capricorn Unit Trust Management Company, Entrepo, Peo Finance, Namib Bou, Capricorn Capital, and Capricorn Group Corporate Finance. Revenue is driven primarily by net interest income from a N$52.5 billion loan book, supplemented by non-interest income from digital transaction fees, asset management fees on N$57.1 billion in assets under management, and bancassurance commissions.
Product overview
Capricorn Group is a diversified financial services group operating a portfolio of subsidiaries and associates across Namibia and Botswana. The Group's core banking operations are conducted through Bank Windhoek and Bank Gaborone, complemented by asset management and unit trust management businesses (Capricorn Asset Management, Capricorn Unit Trust Management Company), microlending services (Entrepo, Peo Finance), property development (Namib Bou), and advisory services (Capricorn Group Corporate Finance, Capricorn Capital). The Group also holds strategic interests in insurance associates (Sanlam Allianz Namibia, Santam Namibia) and telecommunications (Paratus Group Holdings). This integrated structure enables shared capabilities, diversified income streams, and delivery of banking, lending, investment, insurance, and advisory products to individuals, SMEs, and corporate clients across Namibia and Botswana.
Differentiator
Problem solved
Functional benefit
Brands
- Bank Windhoek: Largest locally owned bank in Namibia providing banking services to individuals, SMEs, and corporates
- Bank Gaborone
- Capricorn Asset Management
- Capricorn Unit Trust Management Company
- Entrepo
- Peo Finance
- Namib Bou
- Capricorn Capital
- Capricorn Foundation
Products and services
- Bank Windhoek The largest locally owned bank in Namibia, providing accessible and reliable banking solutions to individuals, SMEs, and corporates, supported by 51 branches/agencies, 186 ATMs, and modern digital channels.
- Bank Gaborone Banking subsidiary in Botswana providing accessible and reliable banking solutions to individuals, SMEs, and corporates, supported by 12 branches/agencies and 25 ATMs.
- Capricorn Asset Management Asset management business helping customers grow and protect their wealth through a wide range of investment products, with assets under management of N$57.1 billion.
- Capricorn Unit Trust Management Company Unit trust management company offering investment products to help customers grow and protect their wealth.
- Entrepo Responsible lending and credit protection solutions tailored to government employees and pensioners in Namibia.
- Peo Finance Responsible lending and credit protection solutions tailored to government employees and pensioners in Botswana.
- Namib Bou Property development activities supporting the Group's real estate development initiatives.
- Capricorn Capital Specialist advisory services based in South Africa that enhance the Group's portfolio and regional presence.
- Capricorn Group Corporate Finance Full spectrum of corporate finance services including mergers and acquisitions, valuations and due diligence, restructuring and recapitalisations, divestitures, strategic advice, and sovereign advisory, with offices in Windhoek, Johannesburg and Botswana.
Quantifiable outcome
- 14.8% year-on-year growth in profit after tax to N$1.99 billion
- +4 more outcomes
Companies that use Capricorn Group
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Capricorn Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Capricorn Group partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, strategic and minor.
- Sanlam Allianz NamibiacoreStrategic partnership enabling provision of wide range of short-term and life insurance products through bancassurance model. Strengthens ability to meet diverse insurance needs of individuals, businesses and specialised sectors.
- Santam NamibiacorePartnership providing short-term insurance products through the Group's bancassurance distribution model, complementing life insurance offerings through Sanlam Allianz Namibia.
- Paratus Group HoldingsstrategicFast-growing pan-African telecommunications provider expanding digital infrastructure across the African continent. Investment supports commitment to innovation and regional development by improving connectivity and providing digital access.
- PSG Wealth ManagementminorNSX-registered stockbroker providing share trading services for Capricorn Group shares listed on Namibia Securities Exchange.
- Cirrus SecuritiesminorNSX-registered stockbroker providing share trading services for Capricorn Group shares listed on Namibia Securities Exchange.
- Simonis Storm SecuritiesminorNSX-registered stockbroker providing share trading services for Capricorn Group shares listed on Namibia Securities Exchange.
- IJG SecuritiesminorNSX-registered stockbroker providing share trading services for Capricorn Group shares listed on Namibia Securities Exchange.
- NSX Financial Market Services (FMS)coreTransfer secretaries and Central Securities Depository Participant for Capricorn Group. Issues share certificates and handles share registry management.
Scale indicators19 records
Recent moves7 records
Expansion highlights6 records
Capricorn Group competitors and assessment
Company assessmentOthers
- PSG Wealth Management: Distribution channel partner for Capricorn shares on NSX and a southern African wealth manager with comparable unit trust and asset management offerings to Capricorn Asset Management.
Broad incumbents
- Sanlam: Pan-African financial services group and Capricorn's bancassurance partner via Sanlam Allianz Namibia; comparable across asset management, insurance, and wealth management offerings in southern Africa.
- Old Mutual Limited: African financial services group with banking, asset management, and insurance operations across southern Africa; directly comparable diversified financial services structure.
- Investec Limited: South African banking and wealth group with corporate finance advisory capabilities that overlap Capricorn Group Corporate Finance's M&A, restructuring, and capital advisory offerings.
Direct peers
- Standard Bank Namibia: Subsidiary of Standard Bank Group and one of the largest banks in Namibia; competes head-to-head with Bank Windhoek across retail, SME, corporate, and investment banking with similar product offerings.
- Nedbank Namibia: Nedbank Group's Namibian subsidiary providing retail, SME, and corporate banking; directly comparable franchise serving the same market segments as Bank Windhoek.
- First National Bank of Namibia: Direct competitor in Namibian retail, SME, and corporate banking, part of FirstRand Limited; highly comparable in target customers, branch-led distribution, and product breadth within the same geography.
- Bank Gaborone: Wholly-owned subsidiary of Capricorn Group but itself a benchmark Botswana retail/SME bank; peers with other Botswana commercial banks such as First National Bank Botswana and Stanbic Bank Botswana.
Regional players
- African Banking Corporation: Regional commercial bank operating across SADC including Botswana; comparable retail and SME banking franchise with regional rather than purely Namibian concentration.
Emerging players
- Letshego Holdings: Pan-African financial inclusion group focused on consumer lending across SADC markets; comparable to Capricorn's Entrepo/Peo Finance microlending franchise and similar southern African footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Capricorn Group social profiles
Digital presenceCapricorn Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Capricorn Group leadership team
Management profileNumber of profiles
Profiles3 records
Capricorn Group subsidiaries and ownership
Company hierarchySubsidiaries10 records
Capricorn Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Capricorn Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Capricorn Group
What does Capricorn Group do?
Capricorn Group is a diversified financial services holding company that provides retail and commercial banking, asset and unit trust management, microlending, bancassurance, property development, and corporate finance advisory services across Namibia and Botswana through subsidiaries including Bank Windhoek, Bank Gaborone, Capricorn Asset Management, Capricorn Unit Trust Management Company, Entrepo, Peo Finance, Namib Bou, Capricorn Capital, and Capricorn Group Corporate Finance. Revenue is driven primarily by net interest income from a N$52.5 billion loan book, supplemented by non-interest income from digital transaction fees, asset management fees on N$57.1 billion in assets under management, and bancassurance commissions.
Is Capricorn Group a public or private company?
Capricorn Group is a public company. It is classified as public and is currently operating.
When was Capricorn Group founded?
Capricorn Group was founded in 1982. It employs 1,001 to 5,000 people.
Where is Capricorn Group based?
Capricorn Group is headquartered in Windhoek, Namibia, in the Africa region.
How does Capricorn Group make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income, asset Management Fees and bancassurance.
Who are Capricorn Group's main competitors?
PSG Wealth Management is listed as an others. Broad incumbents are Sanlam, Old Mutual Limited and Investec Limited. Direct peers are Standard Bank Namibia, Nedbank Namibia, First National Bank of Namibia and Bank Gaborone. African Banking Corporation is listed as a regional player. Letshego Holdings is listed as an emerging player.
Does Capricorn Group have an API?
No public API is recorded for Capricorn Group.
What industry is Capricorn Group in?
Capricorn Group's product category is Diversified Financial Services. Its primary akta.pro industry code is FSAEAGAE, Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps), with a secondary code of BPAHADAB, Corporate Finance & Capital Advisory. Its NAICS code is 5221 and its SIC code is 6021.