JOHANNESBURG – Barclays has set the record straight on speculation of its African operations.
There had been rumours that the British based organization had plans to exit the African market to refocus on its core British and American markets.
Barclays Africa is financially-independent, listed independently and we are not closing our banking operation in Africa
— Barclays Africa (@BarclaysAfrica) February 28, 2016
“Barclays Africa Group Limited (BAGL) 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,” Barclays said in a statement.
In 2013, Barclays Africa was established as a leading African bank when 12 banks across the continent were brought together.
However Barclays has had operations in parts of Africa for decades.
Barclays Africa Group Limited, which includes the South African branch network Absa, is one of the largest banks on the continent.
Barclays Africa Group Chief Executive Maria Ramos remains optimistic of the company’s operations on the continent.
“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,” she said.
“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.”
We remain committed to Africa, where we continue to be optimistic about our growth prospects & to operate in the normal course of business.
— Barclays Africa (@BarclaysAfrica) February 29, 2016