Home » Namibian tycoon Koos Brandt’s Capricorn Group posts $37.9 million in profit in H1 2022

Namibian tycoon Koos Brandt’s Capricorn Group posts $37.9 million in profit in H1 2022

by Omokolade Ajayi

Capricorn Group, a leading financial services group founded by Namibian tycoon Jacobus “Koos” Brandt, has reported a double-digit increase in profit in the first half of its 2022 fiscal year, as the group continues to benefit from an improved operating environment and less stringent COVID-19 restrictions.

Profit increased by 23.8 percent from NAD469.06 million ($30.6 million) in the first half of 2021 to NAD580.5 million ($37.95 million) in the same period of 2022, according to the group’s consolidated interim financial results for the six months ending Dec. 31, 2021.

The double-digit profit growth may be attributed to improved economic activity, although from a low base, which had a favorable impact on the group’s operational environment.

This favorable impact resulted in a single-digit rise in net-interest income, which was driven by a 50-basis-point improvement in Bank Windhoek’s net interest margins as a consequence of successful financing repricing.

Non-interest revenue, which is mostly derived from fees like deposit and transaction fees, rose by 18.4 percent, or NAD130.1 million ($8.45 million), to NAD836.5 million ($54.34 million) during the period under review.

In the balance sheet, the group’s total assets increased from NAD56.2 billion ($3.65 billion) to NAD57.37 billion ($3.72 billion), while shareholder equity increased from NAD6.98 billion ($453.4 million) to NAD7.5 billion ($487.2 million).

As a result of the robust earnings, the board of directors declared an interim dividend of NAD0.32 ($0.02079) per share, payable on March 30. This is a 45.5-percent increase over the previous year’s interim dividend of NAD0.22 ($0.01429) per share.

Capricorn Group is a financial services conglomerate with businesses in banking, micro-lending, property development, and unit trust and asset management in Botswana and Zambia.

Bank Windhoek is its main brand. It is Namibia’s largest locally-owned bank and the country’s second-largest commercial bank.

As of press time on March 1, the bank’s shares were trading at NAD13.1 ($0.851), 1.71-percent higher than their starting price on the local exchange the day before, Feb. 28.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.