Groundbreaking ceremony marks a milestone in Capricorn Group’s journey of positive change

Capricorn Group marked a historic milestone on August 20 with the commencement of construction for a significant new development in Windhoek’s central business district. Located next to the Capricorn Group building at the corner of Independence Avenue and Kasino Street, the groundbreaking ceremony represents a transformative journey for the Group’s employees, customers, and the surrounding business community. It also signifies Capricorn Group’s commitment to contributing meaningfully to the city’s rich heritage and renewal.

The new 13-story landmark building, yet to be formally named, is designed to symbolize Capricorn Group’s achievements over more than four decades and address the growing need for office and parking space. For the Group’s employees, it will serve as a hub for collaboration and innovation in a sustainable environment. The building, expected to be completed by June 2026, will house more than 200 employees from Capricorn Group and its subsidiary, Bank Windhoek.

Aligned with the Group’s purpose of being Connectors of Positive Change, the building’s design incorporates innovative practices to minimize environmental impact and maximize energy efficiency. Adhering to world-class Green Building standards, this development demonstrates Capricorn Group’s commitment to promoting sustainable practices. The Bank Windhoek Main Branch, which has operated in the Bank Windhoek Head Office building next door for 42 years, will relocate to this new building, offering customers an enhanced and modern banking experience.

During the groundbreaking ceremony, Capricorn Group CEO David Nuyoma stated, “Today, we’re not just breaking ground on a new development; we’re laying the foundation for an exciting new chapter in the story of our financial services group. This groundbreaking ceremony symbolizes our progress and relentless pursuit of innovation and positive change, yet, remaining firmly rooted in our heritage and values. We’re not simply investing in a structure of bricks and mortar; this project represents a significant investment in our beloved city’s economic and cultural fabric. Our commitment is to ensure that this development fosters growth and prosperity for the community, enriching the lives of future generations. As we stand here today, we celebrate the beginnings of what will become a new landmark in the heart of Windhoek—a city that has been our home since 1982 and has borne witness to our growth and evolution.”

Johan Swanepoel, Chairman of the Board of Directors of Bank Windhoek, commented on the positive impact of the development, stating, “As we celebrate this undertaking, let us reflect on the positive ripple effects. The construction phase of this development alone will create more than 250 local jobs and support local businesses that will supply materials and a range of services. These jobs will bolster our local economy, enhance the livelihoods of our residents, and ultimately contribute to a robust and prosperous community.”

Swanepoel added, “Our Group’s legacy and heritage are deeply rooted in this piece of land. With this development, we are contributing to a continued legacy of positive change. As part of this commitment, we are determined to breathe new life into the heart of our community at this intersection of history and progress. We will explore ways to rejuvenate the space around our new building for the benefit of our employees, customers, and the community.”

In a vote of thanks, Bank Windhoek Managing Director Baronice Hans expressed her gratitude, saying, “I would like to extend my heartfelt gratitude to our future landlord for their vision and collaboration on this project. We are grateful that as anchor tenant, we have been given the opportunity to provide input into the design and layout of the building and that the needs of our employees and customers have been taken on board. This new space will not only create an enhanced working environment for our employees but also world-class facilities for our customers.”