Capricorn Group Limited Chief Executive Officer David Nuyoma says the company is keenly exploring opportunities in Namibia’s emerging oil and gas industry.
He said while the sector is still developing and no commercial discoveries have been made to date, Capricorn Group is actively engaged in discussions and strategic planning to facilitate financing across the entire value chain.
Nuyoma explained that the company’s efforts include direct engagement with key stakeholders.
“We have been actively engaging with the sector, including a recent visit to the Minister of Mines and Energy. We are particularly interested in the localisation aspect, which involves increasing Namibian participation in the industry. Our goal is to support financing throughout the entire value chain and ensure that local entities are well-represented and involved,” he said.
Nuyoma mentioned promising growth signs, particularly in Namibia, with significant oil discoveries and in the renewable energy sector, especially regarding green hydrogen.
He noted that Capricorn Group is honoured to participate in conversations about Namibia’s energy future and to back efforts promoting sustainable growth and development.
Nuyoma said that as the sector is still in its formative stages, major international oil companies currently lead the field and benefit from established histories and robust banking relationships. Despite this, Capricorn Group aims to make a significant impact as a local player.
“While we recognise that major international oil companies have established histories and banking relationships, we are committed to serving as a local anchor. Our primary focus is on facilitating Namibian involvement across the value chain, which we believe is crucial for the sector’s development,” Nuyoma emphasised.
Regarding potential investments in start-ups within the sector, Nuyoma indicated a cautious approach.
“We approach speculation with caution, assessing the probability of success realistically. We will address potential ownership in start-ups once we have clearer facts and a more informed understanding of the opportunities,” he noted.
The CEO said Capricorn Group has initiated engagement with various stakeholders, including the Ministry of Mines and Energy, the private sector, and NAMCOR.
“We have already engaged with the Ministry, the private sector, and NAMCOR, with whom we have established good banking relations. We remain open and attentive to opportunities and are dedicated to building strong connections within the industry,” he said.
Capricorn Group, a Namibian-listed company, acts as an investment holding company and provides consulting and support services to other group companies.
Its primary investments consist of 100% shareholdings in Bank Windhoek Ltd, Namib Bou (Pty) Ltd, Capricorn Capital (Pty) Ltd, Capricorn Investment Group (Pty) Ltd, and Capricorn Hofmeyer Property (Pty) Ltd.
The company holds an 84.8% share in Capricorn Investment Holdings (Botswana) Ltd, which in turn holds 100% of the share capital in Bank Gaborone Ltd (BG) and Peo Finance (Pty) Ltd.
It also holds a 95.7% stake in Capricorn Asset Management (Pty) Ltd and Capricorn Unit Trust Management Company Ltd.
The company also holds a 55.5% share in Entrepo Holdings (Pty) Ltd (Entrepo), which owns 100% of Entrepo Life Ltd and Entrepo Finance (Pty) Ltd, a 29.5% stake in Sanlam Namibia Holdings (Pty) Ltd, a 28% stake in Santam Namibia Ltd, and an over 30% stake in Paratus Group Holdings Ltd.
