The Chairperson of the Board of Directors of Capricorn Group, Gerhard Fourie, announced on Tuesday that Thinus Prinsloo, Group CEO, will be taking up a new opportunity at Capricorn Investment Holdings (CIH), the largest shareholder in Capricorn Group.
In light of this, the aim is for Thinus to move on from his position as Group CEO of Capricorn Group when the recruitment process for his successor has been completed.
Thinus started his career with the Group when he was appointed as Executive Director at CIH in 2011. In 2013 he was also appointed as an Executive Director of Bank Windhoek Holdings (BWH). On 1 January 2016 he was appointed as the Group CEO of BWH, which was renamed to Capricorn Group in September that same year.
Since joining the Group, he played an instrumental role in setting the Group’s strategic direction and successfully delivering the desired strategic outcomes. His tenure saw the expansion of the Group with investments made in Entrepo Holdings and Paratus Holdings in Namibia, and Peo Finance established in Botswana as part of a deliberate diversification strategy. Through his membership on most of the Group’s subsidiary and associate boards, he played a key role in supporting the growth and sustainability of these companies. He also contributed nationally when he was appointed by the President of Namibia to serve as the Chairperson of the Business Rescue Task Force in 2021.
Under the leadership of Thinus, the Group has delivered a compelling investor proposition backed by solid results year on year. The compound annual growth rate of total group assets and group net profit is 10.1% over the last seven years. Net asset value per share as published on 31 December 2022 was 90% higher than it was on 1 January 2016 when Thinus assumed his role as Group CEO.
“I am excited about the new opportunity offered to me at CIH, the largest shareholder in Capricorn Group. I am immensely proud of Capricorn Group and what we have achieved in terms of creating consistent value for all our stakeholders since our listing a decade ago, notwithstanding often difficult operating conditions. We have a strong brand with a positive reputation and deep relationships with our stakeholders. I am particularly proud of the consistent positive financial performance of the Group since 2016. I would like to thank the Board, the Group Exco, the Executive Management, and the employees of the Group for their support to me over the past 7 years. It has been a great privilege to lead Capricorn Group and its more than 2000 passionate and committed employees. I look forward to new opportunities in my role at CIH and to continue to seek ways to create value for our stakeholders.”, commented Prinsloo, Group CEO on the announcement.
“The Board of Directors would like to express their sincere gratitude to Thinus for his contribution to the growth and success of Capricorn Group and wish him the very best for the future as he takes up a new role at CIH. He has laid a very strong foundation for Capricorn Group’s future, which will serve us well as we embark on our new strategic cycle. We are grateful that the Group will continue to benefit from Thinus’s vast experience in the financial services industry in the region.” said Gerhard Fourie, Chairperson of Capricorn Group.
The process to recruit a successor for Thinus has commenced and further announcements will be made in due course.
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