DAVID Nuyoma, the former Chief Executive Officer (CEO) of the Government Institutions Pension Fund (GIPF), has been appointed as the CEO of the Capricorn Group.
“The Capricorn Board has approved the appointment of Mr. David Nuyoma as the Group CEO Designate with effect from 1 January 2024 and as substantive Group CEO with effect from 1 March 2024, subject to regulatory approval,” Capricorn said.
Gerhard Fourie, Chairman of the Capricorn Group Board, highlighted Nuyoma’s extensive leadership experience, citing his successful tenure as GIPF CEO and, prior to that, as the CEO of the Development Bank of Namibia (DBN). According to Fourie, this makes Nuyoma the ideal leader for the Capricorn Group at this stage of the Group’s journey.
“His forward-thinking mindset, excellent stakeholder relations and demonstrated ability to make business-shaping decisions and lead sustainable operations will add value to Capricorn Group and its stakeholders as the Group continues to evolve its strategic direction and execute its chosen strategic choices,” Fourie added.
Describing Nuyoma as “one of the most respected business leaders in Namibia,” Fourie expressed confidence in the significant positive impact Nuyoma’s leadership will bring to the Group once he officially assumes the role of CEO.
Nuyoma will be succeeding Thinus Prinsloo, who is set to take on a new position at Capricorn Investment Holdings. Prinsloo will, however, continue serving as the Group CEO until 29 February 2024, after which he will hand over his responsibilities to the new CEO. During this interim period, Prinsloo, in collaboration with the Group Chairman and the Group Executive Management Team, will oversee the orientation program and induction process for Nuyoma.
“We thank Mr. Prinsloo for his commitment and support during this important transition process,” the Chairperson of the Group added.