The Capricorn Group board has appointed David Nuyoma as its new chief executive from 1 January.
He will serve a three-month probation period until 1 March, and thereafter become the group’s substantive chief executive, subject to regulatory approval.
This was announced by the group yesterday.
This appointment comes after group chief executive Thinus Prinsloo was appointed to a new position at Capricorn Investment Holdings in August.
Nuyoma was previously the chief executive of the Government Institutions Pension Fund (GIPF) and the chief of the Development Bank of Namibia.
“I look forward to optimising value to this publicly listed, hugely successful, truly locally owned financial institution. I fully subscribe to Capricorn Group’s brand promise of ‘Make Change Positive’,” he said.
Speaking on behalf of the Capricorn Group board, Prinsloo said: “We are privileged to have attracted David Nuyoma to our group.
“He is one of the most respected business leaders in Namibia, and we are confident that the group will greatly benefit from his leadership.
Prinsloo will remain in his current position as group chief until 29 February, during which time he will hand over responsibilities to Nuyoma.
Nuyoma joined the GIPF in January 2013, and under his leadership the fund grew from N$58 billion to N$106 billion in 2017.
Capricorn Group’s board chairperson Gerhard Fourie, said Nuyoma will add value to the Capricorn Group through his years of experience.
“Nuyoma is an experienced and accomplished executive leader with a successful track record … making him the ideal leader for our group at this stage of our group’s journey,” he said.
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