Barclays Africa downplays effect of exit of Barclays PLC   



 Barclays Africa has downplayed any possible effect on its operations following plans by Barclays PLC to leave Africa.

UK-based Barclays PLC  is expected to announce tomorrow, its plans to exit Africa.

Barclays PLC, which owns 62.3% of Barclays Africa, yesterday said it continues to evaluate its strategic options in relation to its shareholding in Barclays Africa Group Limited and expects to update the market at the time of its 2015 full-year results announcement tomorrow, March 1, 2016.

There are fears the move will see the closure, of operations of the bank in the 12 countries it has operations in Africa, including Ghana.

The bank had earlier refused to respond to the reports of its exit terming it as speculations.

But in a press statement copied to Citi Business News  Monday morning, Barclays Africa said any move by its parent company will not affect its operations.

According to the statement signed by the bank’s Africa Group Chief Executive Maria Ramos,

‘Any announcement relating to Barclays PLC’s shareholding in Barclays Africa does not impact the shareholding and ownership of these operations.

Barclays Africa Group Limited wishes to reiterate that we remain committed to Africa, where we continue to be optimistic about our growth prospects, and  to operate in the normal course of business’.

In 2013, Barclays Africa was established as a leading African bank when 12 banks across the continent were brought together.

Barclays Africa Group Limited is the majority (in some cases sole) shareholder of the Barclays Africa Group’s operations in South Africa, Kenya, Botswana, Ghana, Zambia, Mauritius, Mozambique, Seychelles, Uganda and Tanzania (Barclays Bank Tanzania Limited and National Bank of Commerce Limited).

Barclays Africa is an independently-listed entity on the Johannesburg Stock Exchange, regulated by the South African Reserve Bank.

Maria Ramos, Barclays Africa Group Chief Executive adds that Barclays Africa is an ‘independent board and a separate listing on the Johannesburg Stock Exchange we are deeply rooted in Africa and remain firmly in control of our future.

We continue to offer a full and integrated range of products and services to more than 12 million customers in 12 countries across Africa and our customers can be just as confident doing business with us today as they have always been. With an independent board and a separate listing on the Johannesburg Stock Exchange we are deeply rooted in Africa and remain firmly in control of our future.” She said

By:  Vivian Kai Lokko/citifmonline.com/Ghana

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