Stake of Namibian financial services tycoon Koos Brandt in Capricorn Group gains $18.75 million

The stake of Namibian multimillionaire businessman Jacobus “Koos” Brandt in Capricorn Group Limited has increased by $18.75 million (NAD269.76 million) on the back of a surge in the Namibia-based financial services group’s share price.

Shares in Capricorn fell sharply on the Namibian Stock Exchange (NSE) by 22 percent earlier in February amid reports that a $10.82-million (NAD155.62 million) impairment charge pressured the group’s net interest income from $71.60 million (NAD1.03 billion) in 2019 to $59.53 million (NAD856.59 million) in 2020.

This pressure impacted the group’s profits, as it posted a 23-percent drop in profits from $38.73 million (NAD557.22 million) in 2019 to $29.75 million (NAD428.11 million).

This led to a decline in its share price on the Namibian bourse.

Since March 1, shares in the group have increased by 28.40 percent from $0.703 (NAD10.12) to $0.903 (NAD12.99) as of press time, 12:10 PM (UTC+1), July 8.

The group’s market capitalization has increased by $247.82 million (NAD1.47 billion), returning gains for new investors and existing shareholders.

As of press time, the group’s total equity capitalization is $608.87 million (NAD6.65 billion), up 28.36 percent from $361.04 million (NAD5.18 billion) on March 1.

Brandt is a founding member of Bank Windhoek and a director in Capricorn Group, in which he is a substantial shareholder. His stake, which accounts for 18.36 percent of the group’s issued shares, has increased in value from $66.11 million (NAD951.21 million) to $84.86 million (NAD1.22 billion) between March 1 and July 8.

This translates to a gain of $18.75 million (NAD269.76 million) for the multimillionaire in 129 days.