Bank Windhoek announces recruitment process for new Managing Director

Bank Windhoek has announced the commencement of the recruitment process for a new Managing Director. This follows the announcement by the Board of Directors of Capricorn Group and Bank Windhoek that Ms. Baronice Hans will complete her tenure as Managing Director of Bank Windhoek Limited at the end of June 2025, having served with distinction since 1 July 2016.  She has been the first female and longest serving Managing Director of the Bank in its 42-year history.  Over these 8 years, she has led Bank Windhoek through challenging economic and social conditions, including the COVID-19 pandemic, with unwavering dedication and resilience. Under her stewardship, the Bank has not only navigated these challenges but has also experienced significant growth and success, as portrayed by the following key financial metrics: 

• Loans and advances surged by 45% in total over the period
• Total funding expanded by 60% in total over the period
• Profit after tax (PAT) increased by 63% over the period
• The Bank achieved a commendable 8.5% compound annual growth rate (CAGR) in profit after tax over the last eight years excluding the COVID period. 

“As we approach the conclusion of her tenure, the Board of Directors recognised the need to proactively commence with a transparent recruitment process to allow enough time for a comprehensive talent search for a suitable successor who will continue to build on the strong foundation Baronice has established. To ensure a seamless transition of leadership, it is the intention of the Board to appoint a suitably qualified successor as Managing Director: Designate by 1 February 2025 in order to fill the position substantively from 1 July 2025,” said Johan Swanepoel, Managing Director of Bank Windhoek. 

“The Board of Directors would like to make use of this opportunity to acknowledge and thank Baronice for her exemplary leadership, building a strong Executive Management Team with whose support she continues to run a highly successful bank and to reinforce a much-loved brand. During her tenure, the Bank achieved significant milestones, including launching Southern Africa’s first Green bond and a Sustainability bond.  Baronice instilled a strong sales culture to support growth and during her tenure she spearheaded the delivery of a number of customer solutions, including Easy Wallet, the E-Commerce platform and integrated point of sale transacting. She led the Bank’s digital transformation, which has culminated in nationwide branch revamps and the introduction of self-service features to meet evolving customer needs,” commented Gerhard Fourie, Group Chairperson.

“We extend our deepest appreciation to Baronice for the strong foundation she has laid for the Bank’s future growth and for her commitment to ensuring a responsible and seamless leadership transition,” concluded Gerhard Fourie.

The recruitment process for a successor has been initiated, and further announcements will be made once the internal governance and regulatory approvals have been obtained.