THE Capricorn Group has launched a nonprofit foundation to be the group’s corporate social responsibility (CSR) investment vehicle.
The foundation is incorporated under section 21 of the Companies Act in Namibia.
According to a statement, the foundation will be funded by the group and its Namibian operating entities.
Marlize Horn, group executive for brand and corporate affairs, will be acting head of the Capricorn Foundation until a substantive appointment has been made.
“With the establishment of the Capricorn Foundation, we truly live up to our brand promise of being connectors of positive change. We are eager to partner with like-minded foundations/institutions to address national concerns and to more actively engage our stakeholders to identify community needs,” she says.
The foundation aims to make a positive impact on local communities within certain key investment areas.
Moreover, it will collaborate closely with the group brand and corporate affairs department of Capricorn Group on the successful #Changemaker programme, which encourages employee volunteerism in communities.
Johan Swanepoel, chairman of Capricorn Group says for the group CSR simply means doing the right thing for the right reasons.
He says the group’s approach to being a responsible citizen is built into the DNA of all its businesses in Namibia, Botswana and Zambia and is supported by the company’s aim to be open, transparent and accountable in reporting on its CSR activities.
Meanwhile, the Bank Windhoek Social Investment Fund has, to date, been the main contributor to the group’s social investment.
According to the group, this fund has, since its establishment in 2001, been widely recognised for its positive contribution to communities in Namibia through a number of projects in areas such as job creation, entrepreneurship, education and health.
The Bank Windhoek Social Investment Fund will continue to support a number of its signature projects, in addition to its financial support to the Capricorn Foundation.
The foundation will also solicit funds from other donor companies, individuals and organisations.
– charmaine@namibian.com.na
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
