Johan Swanepoel to takeover on Koos Brandt’s retirement

Windhoek-Capricorn Group, a regional financial services group listed on the Namibian Stock Exchange, has confirmed the retirement of Koos Brandt as the chairman of the Bank Windhoek and Capricorn Group boards, effective 30 June 2017, in line with a long-standing succession plan approved by the boards.

"It is well-known that Mr Koos Brandt was a founding member of Bank Windhoek in 1982, being one of the entrepreneurs who acted on their vision to establish a Namibian-owned bank in a pre-independent Namibia. He is a well-respected business leader with a passion for Namibia, a strong entrepreneurial spirit, a determination to succeed against all odds and an uncompromising stance on ethical behaviour.

"A philanthropist at heart, he lives by the principle 'let them know you by your deeds'. These values and humble attitude makes him stand out as a leader and guided the way that the Capricorn Group has conducted its business and engaged with its stakeholders since its establishment," commented Frans du Toit, lead independent non-executive director of the Capricorn Group board.

Brandt informed the boards of Bank Windhoek and Capricorn Group some time ago that he wishes to retire as chairman of the respective boards. At that time, a succession plan was put in place to ensure a responsible and smooth transition of leadership.

"Given the readiness of his successor to take over the reins as chairman and in order to ensure compliance with the new banking institution regulation on the appointment, duties and responsibilities of directors, the Group Board Nominations Committee agreed to the wish of Mr Brandt to retire as chairman of the boards of Bank Windhoek and Capricorn Group on 30 June 2017 at the age of 74. We are very fortunate that our group will continue to benefit from Mr Brandt's wise counsel as he has agreed to remain on these boards as non-executive director. He will also continue to be the chairman of Capricorn Investment Holdings (CIH), who currently holds 55 percent of the shares in Capricorn Group," said Du Toit.

Johan Swanepoel, the current vice-chairman of Bank Windhoek and Capricorn Group will, in terms of the succession plan, become the chairman of these boards effective 1 July 2017.

Swanepoel is a qualified Chartered Accountant (CA) and was the managing partner of Coopers and Lybrand (now PricewaterhouseCoopers) before being appointed as the managing director of Bank Windhoek in July 1999.

In 2005, he took up the position of the group managing director of the CIH group. He has a wealth of experience in the financial services sector and is a seasoned director. He will remain a director of the CIH group but will relinquish a number of other group board positions, including those on the Bank Gaborone and Cavmont Bank.

"On behalf of the boards, management and staff of the group, we would like to thank Mr Koos Brandt for his vision, leadership and exemplary service as chairman of Bank Windhoek since 1990 and also of Capricorn Group since its incorporation as Bank Windhoek Holdings in 1996. Our congratulations are also extended to Johan Swanepoel on his appointment as chairman of Bank Windhoek and Capricorn Group. The boards of directors are confident that the group will continue to prosper under his very able leadership", said Thinus Prinsloo, managing director of Capricorn Group.

Source: New Era Newspaper Namibia