Capricorn Group marked a historic milestone in the Group's journey on 20 August with the celebration of the commencement of construction of a significant new development in Windhoek's central business district next to the Capricorn Group building. The groundbreaking ceremony, on the corner of Independence Avenue and Kasino Street, signifies the beginning of a transformative journey for the Group's employees, customers and the surrounding business community and represents the Group's commitment to contribute in a meaningful way to the city's rich heritage and renewal.
This new 13-story landmark building is testimony to Capricorn Group's commitment to creating positive change for its employees, customers and the surrounding business community. The building, which is yet to be formally named, has been meticulously designed to symbolise the Group's achievements of more than four decades and to accommodate the growing need for office and parking space. For Capricorn Group's employees, it will serve as a hub for collaboration and innovation in an environment that embraces sustainability. The building, expected to be completed by June 2026, will accommodate more than 200 employees from Capricorn Group and its subsidiary, Bank Windhoek.
In line with the Group's purpose to be Connectors of Positive Change, the building's design incorporated innovative practices to minimise environmental impact and maximise energy efficiency. Adhering to world-class Green Building standards, the development is a testament to Capricorn Group's commitment to promoting sustainable practices. The Bank Windhoek Main Branch, which has been located in the Bank Windhoek Head Office building next door for 42 years, will be moved to this new building. This move will provide customers with an enhanced and modern banking and customer service experience.
At the groundbreaking ceremony, Mr David Nuyoma, Capricorn Group CEO, said, “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 symbolises 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".
Mr Johan Swanepoel, chairman of the board of directors of Bank Windhoek commented on the positive impact of the development “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".
“Our Group's legacy and heritage is 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 to positive change, 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.", Mr Swanepoel added.
“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 tenants, 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 onboard. This new space will not only create an enhanced working environment for our employees, but also world-class facilities for our customers," said Ms Baronice Hans, Managing Director of Bank Windhoek, in a vote of thanks.
The Capricorn CBD development site
