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GROUP STRUCTURE as at 30 June 2010

95.5% 75.2% 100% 44.2%


Capricorn Investment Capricorn Asset Capricorn
Holdings (Botswana) Management Cavmont Capital Holdings
Capital
(Pty) Ltd (Pty) Ltd Zambia PLC
(Pty) Ltd

100% 100% 50% 100%


Ellwood Insurance Smartswitch
Brokers (Pty) Ltd Botswana
Bank Gaborone Ltd Cavmont Bank Ltd
t/a Penrich
(Pty) Ltd
Insurance Brokers

28.9%

CIH Group Employee Nam-mic Financial


Share Trusts Services Holdings (Pty) Ltd

5.1% 72.9% 10.3%

Bank Windhoek Holdings Limited

100%
Welwitschia Nammic
Insurance Brokers Bank Windhoek Ltd Santam Namibia Ltd
77.6% 25%
(Pty) Ltd

100% 100%
Bank Windhoek Sanlam Namibia
Namib Bou BW Finance
Nominees Holdings
(Pty) Ltd 100% (Pty) Ltd 29.5%
(Pty) Ltd (Pty) Ltd

10
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