The Capricorn Group 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. Mr. Nuyoma is an experienced and accomplished executive leader with a successful track record as CEO of the Government Institutions Pension Fund until recently and before that as CEO of the Development Bank of Namibia. As part of the process for a smooth leadership transition, Mr. Prinsloo has agreed to remain in his current position as Group CEO until 29 February 2024, during which time he will hand over responsibilities to Mr. Nuyoma.