Capricorn Takes Major Step into South Africa with R788.3 million Centrafin Deal

By: Anton Wokie Mbinge

Namibian financial-service provider, Capricorn Group is making a major move into South Africa by seeking to acquire an 81.6% controlling interest in Centrafin, a specialist equipment-rental and asset-financing business, for an agreed enterprise value of R788.3 million.

The proposed transaction, announced on 6 October 2026, forms part of Capricorn’s strategy to expand beyond its established markets of Namibia and Botswana and build a more diversified regional financial-services group.

In astatement issued by the Group, Capricorn said it has made a successful binding offer to acquire the majority interest in Centrafin from Fonzosys (Pty) Ltd, part of the Alviva Group of companies.

The R788.3 million enterprise value remains subject to the finalisation of Centrafin’s audited financial results.

The transaction will initially give Capricorn 81.6% ownership of Centrafin, while the group will have an option to acquire the remaining interest and potentially take its ownership to 100% over a five-year period.

According to Capricorn Group Chief Executive Officer, David Nuyoma, the proposed Centrafin acquisition marks an important step in Capricorn Group’s growth journey and its ambitions to expand its regional footprint.

“Our ambition is to continue building a stronger, more diversified and increasingly regional financial services Group, and the proposed acquisition of Centrafin represents a deliberate and meaningful step forward in that journey,” Nuyoma said.

Centrafin specialises in equipment rental and asset financing in South Africa. The company has evolved from a technology equipment rental business into a diversified asset-finance house, with Managing Director Jenny Gill saying the business has a R3 billion book spanning a broad range of asset classes.

Capricorn said Centrafin’s established market position, brand, experienced employees, entrepreneurial culture and customer relationships were among the qualities that attracted it to the business.

“We are particularly excited about Centrafin because we see a strong business with a respected brand, experienced and skilled people, entrepreneurial culture and valuable customer relationships,” Nuyoma said.

The Capricorn Group CEO added that the group sees an opportunity to combine the strengths of both businesses and create long-term value.

Centrafin’s brand is also expected to remain unchanged as the company becomes part of the broader Capricorn Group.

The transaction is part of Capricorn’s broader ambition to diversify its geographical footprint.

Capricorn currently has established operations in Namibia and Botswana, with a portfolio covering banking, asset management, unit trust management, microlending and complementary financial services.