2025/10/01 – 15:00:00 – 1085691818881854480
Capricorn Group’s Namibian credit ratings and Bank Windhoek limited’s Namibian and South-African credit ratings upgr
Capricorn Group Limited
(Incorporated in the Republic of Namibia)
(Date of Registration: 5 September 1996)
(Registration Number: 96/300)
Share code: CGP ISIN: NA000A1T6SV9
(“Capricorn Group” or “the group”)
CAPRICORN GROUP’S NAMIBIAN CREDIT RATINGS AND BANK WINDHOEK LIMITED’S NAMIBIAN AND
SOUTH AFRICAN CREDIT RATINGS UPGRADED WITH STABLE OUTLOOK
Shareholders and noteholders are advised that the rating agency Global Credit Rating Company
(“GCR”) has reviewed the Namibian ratings of Capricorn Group and the Namibian and South African
ratings of Bank Windhoek Limited (“Bank Windhoek”).
Capricorn Group’s Namibian long-term national scale issuer rating was upgraded to AA(NA) from AA-
(NA) with a Stable outlook. The short-term issuer rating was affirmed at A1+(NA).
Bank Windhoek’s Namibian long-term national scale issuer rating was upgraded to AA+(NA) from
AA(NA). The short-term issuer rating was affirmed at A1+(NA). At the same time, the South African long
term issuer rating has been upgraded to A+(ZA) from A(ZA). The rating outlooks remain Stable.
The report can be viewed on Capricorn Group’s and Bank Windhoek’s websites at:
https://www.capricorn.com.na/Pages/Investor-Relations/Credit-Rating-Report.aspx ; and
https://www.bankwindhoek.com.na/Pages/About-Us/Corporate-Profile.aspx
By order of the Board
Windhoek
1 October 2025
Sponsor
PSG Wealth Management (Namibia) (Pty) Ltd
Member of the Namibia Securities Exchange
Date: 01-10-2025 03:00:00
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Namibia Securities Exchange – NAM News