Page 99 - Capricorn IAR 2020

2020 INTEGRATED ANNUAL REPORT
With a wide range of stakeholders affected by the revelation of corruption, Bank Windhoek’s management engaged, both directly and through the industry forum, the Bankers Association of Namibia, its regulators, the Bank of Namibia and the Financial Intelligence Centre (”FIC”). In addition to regulatory and industry bodies, Bank Windhoek and the Group actively communicated with employees and the relevant governance structures.
Guided by, and in support of regulatory authorities, Bank Windhoek embarked on a detailed analysis of transactions and impacted accounts and provided all information to the relevant authorities. We thoroughly reviewed the control environment and identified areas for improvement. There is ongoing engagement with the FIC to respond to information requests, report progress with improvement actions and to incorporate emerging recommendations from the FIC in our action plans.
We continuously monitored printed and social media to identify potential reputational issues and to assess the public sentiment towards the banking industry and Bank Windhoek in particular. Bank Windhoek responded in the media as and when necessary.
Outcomes from our responses include a briefing by the FIC to the board.
December 2019 elections
General elections were held in Namibia on 27 November 2019, shortly after the first allegations of corruption and money laundering in the fishing industry. Namibia’s president won another term and made key leadership changes which signal a change in priority and focus. This includes a new Minister of Finance, Minister of Justice, Governor of the Central Bank and Minister of Land and Agriculture. The president also instituted a high-level economic advisory panel earlier in 2019.
From a stakeholder management perspective this has an impact on the Group, as these are important portfolios that shape the environment in which we conduct business. We started engaging with the new leadership, particularly around collective COVID-19 responses.
COVID-19 in Namibia, Botswana
and Zambia
Even though government, business and public responses to the pandemic played out differently in these three territories, all Group stakeholders were impacted by the pandemic.
Our focus was on ensuring the safety of our employees and clients while government is responsible for maintaining social order and providing services during this time.
Employees were kept well informed through line management and two digital channels, namely the intranet and MyCapricorn app. As a result, our lockdown transition was smooth, and our workforce was positive during the ongoing pandemic.
Each subsidiary had a crisis communication and stakeholder engagement plan which it used to direct engagement with all stakeholders. Management set up a communications hub to support collaboration across entities for information gathering and engagement.
Customer channels included SMS, email, media and the Group website, where we engaged with clients about changing operating procedures and relief measures.
Capricorn Group reached out to its extensive network to determine where help was needed and made a positive contribution towards the government and society’s effort to battle the pandemic.
Read more about these contributions in the Group CEO’s report
on page 29.
We are committed to remaining close to our stakeholders, particularly the community and government institutions responding to the pandemic. Our aim is to help identify needs and form partnerships to play an impactful role in society. To this end, we will deliberately remain flexible in our allocation of resources beyond our traditional focus areas. The needs of vulnerable communities, for example, are a top priority.
Capricorn Group CSR vision
To be inspiring Connectors of Positive Change by creating economic value in a responsible way that creates sustainable opportunities for advancing and improving the economic and social conditions in the communities in which we operate.
We are adapting to the gradual relaxation of the lockdown restrictions and have prepared a detailed post-lockdown plan
to ensure that adequate measures are taken to protect our employees and customers, and to ensure that we continue to improve the accessibility of our services through digital channels. Read more about customer assistance in the Group CEO’s report from page 23.
Embedding sustainability in the Group
Capricorn Group: social initiatives
Capricorn Group committed a total of N$5 million in response to the COVID-19 pandemic. Specific areas of support included poor and vulnerable communities, procurement of medical staff protection equipment, as well as a monetary contribution to the National Disaster Fund of Namibia. Read more about the Group’s comprehensive response to the pandemic in the Group CEO’s report from page 23.
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