Capricorn Group announces appointment of new Group CEO

The Chairman of the Capricorn Group Board, Mr. Gerhard Fourie, announced that the recruitment process for the position of Group CEO of Capricorn Group has been successfully concluded. The Capricorn Board has approved the appointment of Mr. David Nuyoma as the Group CEO Designate with effect from 1 January 2024 and as substantive Group CEO with effect from 1 March 2024, subject to regulatory approval. “Mr. Nuyoma is an experienced and accomplished executive leader with a successful track record as CEO of the Government Institutions Pension Fund (GIPF) until recently and before that as CEO of the Development Bank of Namibia, making him the ideal leader for our Group at this stage of our Group’s journey. His forward-thinking mindset, excellent stakeholder relations and demonstrated ability to make business-shaping decisions and lead sustainable operations will add value to Capricorn Group and its stakeholders as the Group continues to evolve its strategic direction and execute its chosen strategic choices,” said Mr. Fourie.

Mr. Fourie welcomed Mr. Nuyoma on behalf of the board of directors, management and staff of Capricorn Group and said: “We are privileged to have attracted Mr. David Nuyoma to our Group. He is one of the most respected business leaders in Namibia, and we are confident that the Group will greatly benefit from his leadership. We wish him the very best for success in his new role.”

Mr. Nuyoma expressed his delight and honour to be offered the position of Group CEO of the Capricorn Group and said: “I look forward to optimising value to this publicly listed, hugely successful, truly locally-owned financial institution. I fully subscribe to Capricorn Group’s brand promise of #Make Change Positive.”

Mr. Fourie also extended the board and management’s sincere gratitude and appreciation to Mr. Thinus Prinsloo for his valuable contribution to the growth and success of the Capricorn Group during his tenure as Group CEO. “We wish Thinus the very best for the future as he takes up his new role at Capricorn Investment Holdings, the largest shareholder of Capricorn Group. As part of the process for a smooth leadership transition, Thinus Prinsloo has agreed to remain in his current position as Group CEO until 29 February 2024, during which time he will hand over responsibilities to Mr. Nuyoma and, in collaboration with the Group Chairman and the Group Executive Management Team, execute the orientation program and induction process for Mr. Nuyoma. We thank Mr. Prinsloo for his commitment and support during this important transition process,” concluded Mr. Fourie.