Bank Windhoek
Encyclopedia
Bank Windhoek Limited, commonly referred to as Bank Windhoek, is a commercial bank
in Namibia
. It is one of the five commercial banks licensed to operate in the country by the Bank of Namibia
, the national banking regulator.
n countries: Botswana
, Namibia
and Zambia
.
In July 2010, the Bank of Namibia
(BON), the country's banking regulator rejected a proposal by the South Africa
n banking conglomerate Absa Group to acquire 70% shareholding in Capricorn Investment Holdings. The BON has subsequently indicated that a minority investment by Absa
might receive regulatory approval.
The group structure of the subsidiaries of CIH is outlined in the section below.
Namibia
Botswana
Zambia
. This is supplemented by a network of 86 ATM
s.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
. It is one of the five commercial banks licensed to operate in the country by the Bank of Namibia
Bank of Namibia
The Bank of Namibia was established in 1993 to replace the never opened Namibia Reserve Bank. The Bank of Namibia is the only institution that is permitted to issue the Namibian dollar by authority that has been given to it under an Act of the Namibian Parliament. The head of the Bank of Namibia is...
, the national banking regulator.
Overview
Bank Windhoek is a large financial services provider in Namibia. , the bank is the second-largest commercial bank in the country, based on assets, with an asset base in excess of US$2.08 billion. The bank offers a broad range of banking services to individuals, small to medium enterprises (SMEs) and large corporations. Services include retail banking, corporate banking, finance trade, mortgage services and microfinance funding, among other products.Ownership
Bank Windhoek is a 100% subsidiary of Bank Windhoek Holdings Limited (BWHL). BWHL is itself a subsidiary of Capricorn Investment Holdings (CIH), which maintains a 73% shareholding in BWHL. Capricorn is a large financial conglomerate, with interests in three Southern AfricaSouthern Africa
Southern Africa is the southernmost region of the African continent, variably defined by geography or geopolitics. Within the region are numerous territories, including the Republic of South Africa ; nowadays, the simpler term South Africa is generally reserved for the country in English.-UN...
n countries: Botswana
Botswana
Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
, Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
and Zambia
Zambia
Zambia , officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west....
.
In July 2010, the Bank of Namibia
Bank of Namibia
The Bank of Namibia was established in 1993 to replace the never opened Namibia Reserve Bank. The Bank of Namibia is the only institution that is permitted to issue the Namibian dollar by authority that has been given to it under an Act of the Namibian Parliament. The head of the Bank of Namibia is...
(BON), the country's banking regulator rejected a proposal by the South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
n banking conglomerate Absa Group to acquire 70% shareholding in Capricorn Investment Holdings. The BON has subsequently indicated that a minority investment by Absa
ABSA
ABSA may refer to:* ABSA Cargo Airline, a cargo airline* Absa Group Limited, the largest consumer bank in South Africa* African Baseball & Softball Association* Australian Bird Study Association, an ornithological organization...
might receive regulatory approval.
The group structure of the subsidiaries of CIH is outlined in the section below.
Group structure
Capricorn Investment Holdings owns other financial institutions in whole or in part, including the following:Namibia
- Bank Windhoek Holdings Limited - 73% Shareholding
- Bank Windhoek Limited - 73% Shareholding
- BW Finance Limited - 73% Shareholding
- Welwitschia Nammic Insurance Brokers Limited - 56.7% Shareholding
- Namib Bou Limited - 73% Shareholding
- Santam Namibia Limited - 18.3%Shareholding
- Sanlam Namibia Holdings Limited - 21.5% Shareholding
- Nammic Financial Services Holdings - 100% Shareholding
- GH Group Employee Share Trust - 16.4% Shareholding
Botswana
- Capricorn Investment Holdings (Botswana) Limited - 94.9% Shareholding
- Bank Gaborone LimitedBank GaboroneBank Gaborone Limited, commonly known as Bank Gaborone, is a commercial bank in Botswana.-History:The Bank of Botswana issued a license to Bank Gaborone Limited to commence with its full retail banking business on February 1, 2006. Bank Gaborone opened their first branch on Pilane Road, Gaborone...
- 94.9% Shareholding - Ellwood Insurance Brokers limited - 94.9% Shareholding
- SmartSwitch Botswana Limited - 47.5% Shareholding
- Capricorn Asset Management Limited - 75.2% Shareholding
- Capricorn Capital Limited - 100% Shareholding
- Cyan ES Limited - 100% Shareholding
Zambia
- Cavmont Capital Holdings Zambia Plc. - 44.5% Shareholding
- Cavmont Capital Bank - 44.5% Shareholding
Branch network
, Bank Windhoek maintains an interconnected network of 50 branches across NamibiaNamibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
. This is supplemented by a network of 86 ATM
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s.
Directors
The directors of Bank Windhoek as of June 2010 are:- Koos Brandt - Chairman
- Johan Swanepoel - Vice Chairman
- James Hill - Managing Director
- Brian Black - Director
- Frans du Toit - Director
- Eric Knouwds - Director
- Gida Nakazibwe-Sekandi - Director
- Hellmut von Ludwiger - Company SecretaryCompany secretaryA company secretary is a senior position in a private company or public organisation, normally in the form of a managerial position or above. In the United States it is known as a corporate secretary....