Capricorn Group launched its 2019 Integrated Annual Report on Wednesday, 9 October 2019, the fourth integrated report for the Group which adheres to the International Integrated Reporting Council's IR Framework. It is also the third consecutive report that includes the Group's subsidiaries in Botswana and Zambia. The report reflects the value created by the Group in the past year, captivating a holistic and stakeholder-orientated view of the social, environmental and governance aspects that are related to the Group's activities and performance during the financial year, which ended on 30 June 2019.
The report, which transparently and informatively shows how Capricorn Group creates sustainable value for all its stakeholders, was well received by analysts and media practitioners in the morning session, and shareholders and strategic partners in the afternoon session. From a design point of view the Report displays images of the mesmerising landscapes of the regions in which the Group operates namely Namibia, Botswana and Zambia, symbolising the social, economic, political, industrial and cultural centres that create diverse opportunities for growth. The financial year was exceptional in the sense that all the subsidiaries delivered good results across the board, simultaneously elevating the performance of the Group to record highs despite the current economic environment in which it operates.
Capricorn Group and its subsidiaries are committed to principles of sound corporate governance, which are characterised by discipline, transparency, independence, accountability, fairness and social responsibility. This commitment fuels the group's drive to continually mirror its reporting standards against the IR Framework, which is regarded as best practice in transparent communication with shareholders and other stakeholders. In this light, Capricorn Group can proudly announce that in 2019, we implemented King IV, transitioning from NamCode. King IV focuses on outcomes as opposed to inputs in respect of good governance. It defines corporate governance as the exercise of ethical and effective leadership by the board towards the achievement of four corporate governance outcomes namely: Ethical culture; good performance through sustainable value creation; effective controls and trust - a good reputation and legitimacy of the company. Our Integrated Report also complies with the Namibian Companies Act, 28 of 2004, the NSX Listing Requirements, International Financial Reporting Standards, Namibia Banking Institutions Act, 2 of 1998, Botswana Banking Act, 2 of 1995 and the Zambia Banking and Financial Services Act, 7 of 2017.
“The substantial track record of Capricorn Group proves indeed that we live up to our vision and purpose of being a Connector of Positive Change, creating opportunities for all our stakeholders to enjoy the benefits of the shared value we generate." Thinus Prinsloo, Capricorn Group Chief Executive Officer.
The full Integrated report or a summarized version thereof can be viewed or downloaded from the Capricorn Group website at www.capricorn.com.na.
