Barclays Africa Group remains committed to Africa

29 February 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.

UK-based 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 on 1 March.

Barclays Africa is an independently-listed entity on the Johannesburg Stock Exchange, regulated by the South African Reserve Bank and we are well capitalised with a track record of strong returns.

Maria Ramos, Barclays Africa Group Chief Executive says: "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."

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

"In doing so, we put the future of this organisation firmly in our own hands," Ms Ramos said.

Barclays Africa Group Limited is the majority (in some cases sole) shareholder of the BAGL operations in South Africa, Kenya, Botswana, Ghana, Zambia, Mauritius, Mozambique, Seychelles, Uganda and Tanzania (Barclays Bank Tanzania Limited and National Bank of Commerce Limited). Any announcement relating to Barclays PLC’s shareholding in BAGL does not impact the shareholding and ownership of these operations.

"We continue to be optimistic about our prospects in Africa, where we have a strong franchise with assets of over R1 trillion. We are deeply committed to the success of our continent. Our destiny is in Africa," Ms Ramos says.

Barclays PLC and Barclays Africa Group Limited will announce their 2015 financial results tomorrow.