Page 89 - Capricorn IAR 2020

2020 INTEGRATED ANNUAL REPORT
Strategic risk Strategic risk is the uncertainty and untapped opportunities created and affected by internal and external events and/or scenarios that could inhibit the achievement of the Group’s strategic intent and strategic objectives.
How we mitigate this risk
During the year, we mitigated strategic risk in three ways:
• Applying governance as per the Capricorn Group Strategic Risk Management Framework
• Adopting best-practice strategy development methodology consistently across the Group, entities and
centres of expertise, thus ensuring strategic alignment
• Implementing strategy, with clear and appropriate metrics and performance targets, to ensure that,
where performance fell short of targets, actions were triggered to close strategic performance gaps
Key risk indicators
• Market share in loans and advances (Bank Windhoek)
• Market share in total deposits (Bank Windhoek)
• Customers per full time employee (all banks)
• Customer contribution (all banks)
PRIORITIES FOR 2020 AND PROGRESS MADE
• The key priorities identified in the previous period remained valid, namely improving customer experience and optimising business processes. We made significant progress in our understanding of our customer through advanced analytics.
• We continued our investment in Six Sigma capabilities by training employees in the discipline, and a number of projects were successfully completed.
• The AsOne2023 strategic choices were developed through a robust and participative Group process. Progress will be monitored from 1 July 2020.
GOVERNANCE OVERSIGHT
The Group and subsidiary boards conduct annual strategy sessions to approve strategies
for the Group and subsidiaries, respectively. The managing directors report progress with the implementation of the strategy at quarterly board meetings.
MORE INFORMATION
Read more in the section on our strategic landscape and material matters from page 41.
FUTURE FOCUS AREAS
Our focus will remain on the above-mentioned priorities.
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