The year began on a good note for Namibian multimillionaire businessman Koos Brandt as he recorded a $3.9 million increase in his stake in Namibia-based investment firm Capricorn Group Limited. It was reported to have increased as the group’s share continued to rise on the Namibian Stock Exchange since the start of the year.
Brandt who is the largest individual shareholder stepped down as the chairman of company and the group’s main brand Bank Windhoek in June 2017, with an 18.52 percent interest.
The Capricorn group is a leading financial cooperation that offers micro-lending, banking, property development, asset management, and unit trusts are based in Namibia, Botswana and Zambia.
Bank Windhoek, the group’s main brand is Namibia’s largest locally owned bank and the country’s second-largest commercial bank.
Since the beginning of the year, the Namibian Stock Exchange had recorded Capricorn shares to have increased from a price of NAD 13.3 ($0.712) which was the price as at the start of the year to NAD 13.79 ($0.753) as at the time of writing this report reflecting about 23 percent gains.
This increase is due to the continuous buying activity in the company’s shares by investors. The majority of Koos Brandt recent wealth is gotten from his stake in this financial service provider.
Brandt’s stake market value increased by NAD 72.6 million ($3.96 million) since the start of the year. It increased from NAD 1.24 billion ($67.99 million) on 1st of January to NAD 1.32 billion ($71.95 million) on 21st of February due to the recent increase in the company’s share price.
This recent increase added about a 16.6 percent increase in its profit from NAD 983 million ($.55.6 million) in 2021 to NAD 1.14 billion ($64.5 million), propelled by the blooming progress across all its operations.
Koos Brandt’s $3.9 million increase in his stake increased the market value of his investment holdings up to $72 million which further strengthened his position as one of Namibia’s richest investors and businessmen.
From the period he was under review, the group’s total assets increased from NAD 56 billion ($3.16 billion) to NAD 60.44 billion ($3.42 billion), with its liabilities from NAD 48.91 billion ($2.77 billion) to NAD 52.65 billion ($2.98 billion).
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