Barclays Africa Group Ltd shareholders today approved that the group changes its name to Absa Group Limited in July, setting in motion the start of one of the largest re-brand projects in Africa at this time.

“The vote in support of our name change in July marks another milestone in our separation from Barclays PLC to become an independent African bank with global reach,” said Wendy Lucas-Bull, Chairman of Barclays Africa Group Ltd. “This is the start of a brand journey that will galvanise our operations across Africa behind a single brand and purpose.”

As part of the process, the new name must be registered by South Africa’s Companies and Intellectual Property Commission. In accordance with the timetable that we have shared with our shareholders, the name change is expected be effective on 11 July 2018. The group’s share code on the Johannesburg Stock Exchange (JSE) will change from BGA to ABG on 11 July.

The group name change will not affect functionality of Absa or Barclays products and services in Africa.

The group’s Barclays-branded banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia will continue to trade as ‘Barclays’ even after the group name changes to Absa in July. The Barclays-branded banks in these countries will be rebranded at a later stage, subject to regulatory approvals in those markets.

Following the sell-down by Barclays PLC of its majority shareholding in Barclays Africa Group to a minority position in 2017, the two companies are separating. As part of the separation agreement, Barclays Africa Group will cease using the Barclays brand in Africa in 2020.

“We will in the future have a brand that is reflective of our African identity – this as an enormous opportunity as we create a banking group that Africa will be proud of,” Lucas-Bull said.

After 13 weeks of intensive networking, mentoring and development, 10 companies have showcased their innovative fintech businesses at a ‘Demo Day’ in Cape Town, as the first-ever cohort of the Barclays Accelerator in Africa concluded. The three month fintech accelerator programme was hosted by Rise, Barclays Africa’s open innovation hub, in Cape Town.

The Barclays Accelerator, powered by Techstars, is an intensive startup programme designed to capture, shape and scale the next generation of innovative fintech businesses. The programme draws upon mentors from across Barclays and the Techstars network.

An audience of more than 400 including investors, industry experts, fintech specialists, as well as Absa and Barclays executives attended the Demo Day to hear how the startups are tackling different challenges on the African continent and ultimately help shape the future of financial services across insurance, payments and agriculture.

Demo Day

Commenting on the programme, Head of Open Innovation at Barclays Africa, Paul Nel said: “As Barclays Africa we are committed to driving leading fintech innovation that translates into lifestyle-enabling products and services for our customers, and creates greater financial inclusion across the continent.”

“We are thrilled with the quality of the ventures. This first-ever cohort to participate in the Barclays Accelerator programme in Africa has set the bar very high. They richly deserve the opportunity to showcase their businesses at the Demo Day, and attempt to secure further investment and signed POCs.”

Yossi Hasson, Managing Director of Techstars in Cape Town added: “The Barclays Accelerator, powered by Techstars once again showed why it is the pre-eminent fintech accelerator in world. This Africa class will now join the Techstars global ecosystem which spans 15 000 community leaders, mentors, founders and investors across 137 countries.”

During the event the companies highlighted their impressions of the programme.

Asoriba (Ghana): “Depth is the word I will use to describe our experience in the Barclays Accelerator programme. With the help of the team, we have gone deeper into our business and have identified what we need to do to make it a success. Before now, we have been struggling to focus on our end-goal.

Thanks to great leadership of Yossi Hasson, MD of Techstars Cape Town, and the entire team, we have learnt to be excellent at what we do and dive deep into the clients’ needs. We also lacked knowledge around email marketing and how to keep a clean domain name. We actually had issues with our mass email provider. Techstars helped us fix these issues, signed us up on a new email service and helped us get our transactional and marketing emails up and running again,” said Nana Agyeman-Prempeh.

BenBen (Ghana): “For BenBen, this programme has been instrumental in growing our network and stakeholders that will participate in our initial launch with the Ghanaian government. With the advice from the mentors we have been able to expand our business model to include B2B services for banks, insurance providers, and real estate firms. BenBen aims to launch a pilot programme which will have a searchable digital map populated with data from the Lands Commission, Barclays Africa and BenBen surveyors to our initial users which will be Barclays Africa employees in Ghana,” said Emmanuel Noah.

Beyonic (Uganda and United States): “For Beyonic, participating in the Barclays Accelerator, powered by Techstars gives us the ability to supercharge our business by fast-tracking our ability to work with the bank and the incredible Techstars network. By the end of the programme, we are looking to close several major deals with global financial institutions and position Beyonic for rapid growth in multiple markets,” said Luke Kyohere.

iNuka Pap (Kenya): “As one of the start-up companies going through the Barclays Accelerator, iNuka Pap is getting rich mentorship from the vast selection of experts. We are finding better, faster and more effective ways of running our business. In addition, we are making valuable partnerships with corporates that are strategically placed in the market. We have enhanced our company’s business in terms of market penetration and operations. We are confident in our product and hope we can use it to significantly improve the lifestyle of people living in rural Kenya,” said Waweru Kuria.

Jamii (Tanzania): “The Barclays Accelerator programme tops all my MBA studies put together. I have received the most direct training on running my business, predicting economies and matching it up in my business case, product design, financial modelling, marketing best practice and most of all made a lot of worthwhile connections while networking.

“The Barclays Accelerator programme has transformed me as an individual to a more confident entrepreneur. I understand my work and the worth of my business. I have improved my persona and most of all transformed our business. I hope to have found solutions to our acquisition problem and attract enough investors to expand my business in Tanzania and later grow in Kenya, Uganda, Rwanda, Ghana and South Africa,” said Lilian Charles Makoi.

ReAble (Lebanon): “Barclays Accelerator, powered by Techstars has provided us with an immense amount of help ranging from mentors to connecting us to major experts, executives and entrepreneurs in the fintech industry. The guidance and opportunities that we received here have accelerated our company further beyond what we expected to achieve. I would say three months of the programme is equivalent to three years’ worth of company standalone progress,” said Emile Sawaya.

SimbaPay (Kenya and Nigeria): “Two key value adds from participating in the Barclays Accelerator, powered by Techsatrs are firstly learning from much wiser mentors and secondly, initiating great partnerships within the Techstars network. We expect to expand our remittance services leveraging Barclays Africa’s reach and SimbaPay’s agility. The programme also helped to sharpen our business strategy and execution, and to secure investment to support our growth plan,” said Enoch Nyasinga Onyancha.

Social Lender (Nigeria): “The programme has been extremely valuable to us as individuals and as a business. Completely eye-opening and the networking is out of this world. We hope to have a successful POC and begin preparation for a fully-fledged business partnership with Barclays Africa and scale very quickly,” said Faith Ekwebelam.

Tech4Farmers (Uganda): “To tap into the kind of network the programme has given us access to in just three months would otherwise have cost a lifetime of hard work. It’s priceless. We hope that we will be better positioned to give our customers a much-needed better experience in our field,” said Deogratious Afimani.

WizzPass (South Africa): “This programme has given us access to an extremely big network of individuals willing to help us through our business journey and enhance our chances of success. The knowledge gained has been immense, from master class sessions to interacting with fellow start-ups and mentors in the programme. We have concluded a successful POC with Barclays Africa as well as securing seed funding. We hope to enhance our traction in the corporate and retail sector,” said Bradley Hornby.

• Absa unveils new visual identity as it separates from Barclays group
• Absa launches  ‘Africanacity’ marketing campaign
• Roll-out of new brand design starts 11 July in South Africa; to be completed in 2019

Absa Group, formerly Barclays Africa Group, today launched a new visual identity, supported by a new marketing campaign, as the group separates from the international Barclays PLC group to form a standalone African bank with global scalability.

Absa Group owns Absa Bank in South Africa as well as Barclays-branded banks and other subsidiaries in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia. Absa Group also has representative offices in Nigeria and Namibia.

Barclays PLC’s reduction of ownership in Absa Group has enabled the African group to shape a new corporate strategy and to roll out an identity that reflects its African roots and which is fit for a forward-looking business in a digital era. As part of the co-creation of the group’s new strategy, a new business purpose was established: ‘Bringing your possibility to life’.

The group’s new logo features ‘absa’ in lower case, offering a more human, approachable and understated feel than its predecessor. Stripped of complexity, the new button-like logo sits comfortably among popular new brands in a digital space. Absa’s brand colour has been expanded to a wide spectrum of reds.

“Our ownership change has given us the opportunity to relaunch Absa as a different bank and we needed a new visual identity to mark the substantial re-set we’re making as a business,” said David Wingfield, head of Absa Group Marketing. “Our new brand is an expression of the new identity we are creating as an entrepreneurial, digitally-led bank with deep knowledge of African markets and with global scalability.”

OgilvyRED (New York), Grid Worldwide and Yellowwood consulted on the brand change.

The brand refresh programme starts in South Africa today and will be completed in 2019. The rebranding programme will extend to nine other African markets, where Absa’s banks are currently branded ‘Barclays’, over the next two years. Thousands of assets and infrastructure, including bank branches, ATMs, forms, offices, online platforms, websites, business cards, uniforms and more across Africa will be rebranded by mid-2020.

Absa’s substantial brand equity and pedigree as a stable bank will be leveraged in extending the brand to countries outside of South Africa. The brand already enjoys recognition in African countries where the Absa Premiership League is screened on TV. Absa will also leverage sponsorship properties in several countries to spearhead the brand change in those markets.

The brand refresh in South Africa will be supported by Absa’s new ‘Africanacity’ marketing campaign, conceived by FCB Africa and launching today.

“‘Africanacity’ was created as a bespoke word that embodies the distinctly African ability to always find a way to get things done,” said Wingfield. “We’re a continent with immense challenges, but also one with tremendous tenacity, soul and a sense of togetherness.”

View our logo

Absa Group recognizes the legacy of the past and the need to address inequalities in our country. As a responsible corporate citizen, we are fully supportive of land policy and legislation that fulfils the intent of our Constitution and address the need for land among many South Africans. Our position is that this must be done in a manner that balances the needs of current and future private land owners, Communities, beneficiaries, government, the financial sector as well as its stakeholders. Absa has therefore identified five key areas through which it can make a meaningful contribution towards a sustainable land reform agenda. To gain more insights on our position, click on the link to read the full paper.

Key points:

• Dividend increased 4% to 1 070 cents per share
• Income increased 1% to R72.9 billion
• Headline earnings increased 4% to R15.6 billion
• Impairments declined 20% from a high base in 2016
• Cost-to-income ratio rose to 56.8% from 55.2%
• Return on equity decreased to 16.4% from 16.6%
• Balance sheet at R1.2 trillion, with strong capital and liquidity levels

Barclays Africa Group, one of the largest banking groups in Africa, today released its first annual financial results since the successful conclusion of the reduction by Barclays PLC of its majority shareholding in Barclays Africa Group last year.

The Group reported a 4% increase in headline earnings in 2017 as impairments declined substantially from a high base in 2016. Return on equity of 16.4% remains strong.

Headline earnings, a measure analysts use to gauge profitability, grew despite the continued slow economic expansion in some of the Group’s largest markets, including South Africa, where the Group generates approximately 80% of its income.

Barclays Africa Group continues to have solid balance sheet assets of R1.2 trillion and strong capital and liquidity levels – these are measures of the strength of buffers banks have in place to protect customer deposits.

Barclays Africa Group’s separation from Barclays PLC is progressing well and the parties continue to work together to ensure a seamless separation.

*Note: Normalised numbers are presented below to adjust for the consequences of the separation and better reflect the Group’s underlying performance.

• Clear ambition to double market share to 12% of African banking revenues
• Restore market-leading position in core business areas
• Sustainable growth to be driven by a transformative culture
• Barclays Africa Group Limited to be re-named Absa Group Limited

Barclays Africa Group Limited, one of the largest banking groups in Africa, today outlined a new business strategy to deliver on ambitious goals following the successful sell-down by Barclays PLC of its majority stake. The Group also announced its new corporate identity.

Barclays Africa Group CEO Maria Ramos said, “Our overriding goal is to become a banking group of which Africa can be proud, a forward-looking African business that recognises our African heritage, rooted in Africa, with global reach. We have a clear and undiluted ambition to double our market share of African banking revenues to 12%.” It is a bold plan for growth.

“Growth has to be an essential part of our DNA, the driver behind our every action and a core facet of our ambition for this business. Sustainable growth is fundamentally about culture. We are building our culture around a shared sense of purpose and identity, a celebration of our diversity and inclusion, a passion for growth- helping our colleagues bring their possibility to life.

A priority for Barclays Africa is to restore leading positions in core business areas, while expanding into new markets, enabling the group to deliver double-digit growth.

The Group will expand its corporate and investment banking unit to certain international jurisdictions, with offices set to open in London and later in New York, trading as Absa Securities, and offering opportunities for our clients to financial markets offshore, and providing access to corporates and institutions seeking to invest in Africa

As an independent and stand-alone business, Barclays Africa will have the agility, the means and the risk appetite to strive for growth, said Ramos.

“This is an exciting time for us. The sell-down has provided us with the headroom to reinvigorate our company while building on the proud heritage Barclays has in Africa. We will work hard to deliver on our new strategy and to build our reputation as a bold, trusted, innovative and customer-focused brand.

Barclays Africa group is building a scalable, digitally led business, passionate about innovation, Ramos said.

Re-branding

Barclays Africa Group Limited will be renamed Absa Group Limited in due course and trade as Absa across its operations (currently branded Barclays) in Africa, pending shareholder and regulatory approvals.

“The sell-down gave us the opportunity to roll out a brand that reflects our identity in Africa and to unite our operations in 10 countries behind one name,” Ramos said. “We will be Absa, not as you know it, but relaunched, re-presented and with an identity fit for the new and forward-looking business we are creating.”

Absa is currently the brand of the Barclays Africa Group’s South African business. The Absa brand has substantial equity as one of the largest banks in South Africa and enjoys recognition in many of the countries in which Barclays Africa operates under the Barclays brand currently.

Barclays Africa Group undertook extensive research internally and externally, in a process that included more than 130,000 conversations with employees and stakeholders about the brand and strategy of the Group.

“We are re-setting our business with a bold, new growth strategy that leverages our existing footprint and market insights,” Ramos said. “The new identity is further evidence of the scale of the transformation and change in our business – a new brand for a new banking group,” Ramos said.

Botswana, Kenya and Nigeria have moved up the Absa Africa Financial Markets Index, produced by the Official Monetary and Financial Institutions Forum, and South Africa remains in top position, supported by strong financial market infrastructure and a robust legal framework. However, South Africa’s macroeconomic performance has deteriorated over the past year.

Notably, the country no longer tops the index across all six pillars as it did in 2017, having been overtaken by Kenya on ‘access to foreign exchange’ and by Nigeria in ‘market transparency, tax and regulatory environment’. Nigeria is a new entrant to the top five, as a result of Namibia falling to sixth place from fourth this year.

The five highest ranked financial markets in the 2018 index are: South Africa, which remains in the top position; Botswana, which rose to second place from third last year; Kenya, which climbed two spots on improved access to foreign exchange; Mauritius, which moved down to the fourth place from second last year; and Nigeria, owing to improvements in administrative efficiency and tax incentives that have boosted the country’s regulatory environment.

Now in its second year, the index is a premier indicator of the attractiveness of Africa’s financial markets, for use by governments, investors and asset managers around the world. ‘The second edition of the Absa Africa Financial Markets Index draws attention to the considerable investment opportunities and untapped market potential of countries across the continent,’ says Akinwumi Adesina, president of the African Development Bank, in a foreword to the report.

‘The development of well regulated, deep and liquid financial markets is a key priority that should be at the top of Africa’s development agenda. The index facilitates a meaningful debate about the maturity and accessibility of Africa’s financial markets. It is an important contribution that supports policy-makers, investors, regulators and other market participants to identify the areas and initiatives which will drive the most significant improvements,’ says Maria Ramos, chief executive officer of Absa Group.

‘It is heartening to see the advances made by African countries, in many areas, to improve the efficiency of capital markets,’ says David Marsh, chairman of OMFIF. ‘However, more remains to be done regarding the robustness of market infrastructure and regulatory frameworks across Africa and we look forward to tracking progress annually.’

This year’s edition extends coverage to three additional countries – Angola, Cameroon and Senegal – and pays special attention to policies for enhancing market growth, including financial inclusion and investor education. Countries are progressing with policies that support the development of financial markets across the continent. South Africa’s ‘twin peaks’ strategy for improving financial regulation and Mozambique’s ‘financial sector development strategy’ stand out among the frameworks introduced over the past year. Such initiatives have boosted performance for the index as a whole.

The greatest area for improvement across the continent remains the ‘capacity of local investors’. Excluding the top five economies, the remaining countries average a score of just 22 out of 100 in this pillar. Survey respondents highlighted that the lack of knowledge and expertise of pension fund trustees and other asset owners hinders the development of new financial products, by reducing their demand for more sophisticated assets and strategies to diversify returns. The index also shows that improvements in market infrastructure and regulatory frameworks could boost the performance of countries in the middle of the index over coming years.

The 20 economies surveyed are: Angola, Botswana, Cameroon, Egypt, Ethiopia, Ghana, Ivory Coast, Kenya, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Seychelles, South Africa, Tanzania, Uganda and Zambia. The index provides a toolkit for countries wishing to build financial infrastructure by tracking progress annually across six pillars: market depth; access to foreign exchange; tax and regulatory environment and market transparency; capacity of local investors; macroeconomic opportunity; and enforceability of financial contracts, collateral positions and insolvency frameworks.

The Index can be viewed here: https://thinktank.omfif.org/afmi2018

On 11 July this year, Absa Group became the first large corporate to embrace the .Africa domain by changing its website address to www.absa.africa. Launched just more than a year ago, the .Africa domain is widely promoted by the African Union, intended to support and develop business and corporates on the African continent.

Adopting the new – mostly unknown and distinctly African – domain was not without its challenges, but it underscored Absa Group’s efforts to establish its new identity as an independent, digitally led African bank.
Five things Absa learnt in adopting .Africa:

1. As an early adopter, be ready to break big waves.

.Africa is a new domain, launched only last year. When Absa began the process of migrating its online information to its new domain as part of its separation from Barclays, the domain was not even a year old.

With no other large corporate having adopted .Africa as their primary domain, Absa was on its own in working out how to best transfer data, integrate the new domain and enable top-tier cyber protection, while ensuring social acceptance of the new domain. It was no easy feat as the process differs from the steps that would have applied to moving information to another traditional domain name such as .com or .co.za

A complete domain change at Absa involved not only setting up the new domain and all its security protocols, but also migrating almost 60 000 email addresses – seamlessly – while minimising downtime.

The transfer of data and email addresses was by far one of the most complex aspects of the process, and our teams have transferred over 6 000 accounts since 11 July 2018, according to Craig du Toit, Absa’s Brand Technology Lead. As Absa rolls out its new brand and domain across the rest of its African operations, it expects to migrate a further 54 000 email addresses over about 18 months.

2. Global IT infrastructure isn’t designed to embrace .Africa.

Global IT infrastructure is familiar with traditional domains such as .com or .co.uk or .co.za, and much less so with newer domains such as .Africa. Many network servers around the world have bulk lists of ‘whitelisted’ domains that ensure that those on the network have no difficulties in accessing websites with more traditional domains.

According to Registry Africa (ZACR), which allocates .Africa domains, there are only 16 445 registered .Africa domains, compared to the more than 130 million registered as .com sites, in Africa. But, newer domains are not generally on these whitelists, even if they are publicly supported by credible organisations such as the African Union.

3. The traditional domain name space is a bit crowded.

Traditional domains such as .com or co.uk do not have that many more web address options left. The .com addresses and registrations are oversubscribed, with exceedingly high after-market re-purchase prices.

Newer domains such as .Africa are an opportunity for corporates such as Absa to create options for themselves – which is crucial to brand protection.

4. Register, register and keep registering.

Trademark and copyright protection are important to any brand. As a result, many large corporates buy domains and web addresses that they do not intend to use, but that they would not want a competitor or someone with nefarious intentions using.

For example, a large corporate such as Coca-Cola has likely bought up domains such as coca-cola.africa, coca-cola.joburg, coca-cola.durban and many more such addresses, simply to ensure that no one else uses them. Should they ever need these addresses, they are also readily on hand.

Thus far, Absa has registered more than 400 additional domains, as part of a wider defensive strategy.

5. Corporates don’t generally seem to have an email or domain naming policy.

Knowing that the company would have to change its domain from that of Barclays Africa to a name resembling its African identity, Absa looked to other large corporates that have successfully migrated domains for guidance on policies and procedures.

What the team realised, however, is that there was no apparent precedent – let alone policy – to follow. While some large corporates may have moved domains previously, none had moved to a relatively unknown domain like .Africa.

Further, while many companies have an unofficial email address convention (usually along the lines of name.surname@company.domain), they do not appear to have official guidelines on this process. What, for example, happens when two people with the same name join the organisation? Considering that Absa Group employs more than 41 000 employees across the continent, there is a real chance of this happening. The new corporate policy makes provision for these challenges, outlining clear processes.

The Absa team developed an email and domain naming policy from scratch, specifically crafted with our business purpose in mind, and knowledge of how a modern working environment uses domain functionality. Much of the project work involved setting up new environments and moving accounts from outdated platforms that don’t support direct migration.

• Barclays Africa Group to support Frontclear’s Technical Assistance efforts through its Partnership Facility
• Barclays Africa Group has committed to supporting wholesale market development in Kenya, Tanzania, Uganda, Zambia and Ghana over the next 2 years
• Barclays Africa Group and Frontclear signed memorandum of understanding to implement TradeClear in key African interbank markets

Barclays Africa Group Limited (BAGL) has signed a 2-year agreement to provide financial support to the Frontclear Technical Assistance Programme (FTAP) through the latter’s Partnership Facility. The contribution reflects the bank’s commitment to building inclusive, stable and liquid interbank market development through providing training, regulatory support and essential market infrastructure. The programme will be rolled-out in in Kenya, Tanzania, Uganda, Zambia and Ghana.

BAGL and Frontclear also concluded a memorandum of understanding regarding the implementation of the TradeClear interbank guarantee facility in Kenya and other leading African financial markets.

The partnership allows BAGL to implement the findings of the Barclays Africa Financial Markets Index. Released in late 2017, the Index ranks the maturity, openness and accessibility of 17 financial markets in Africa, based on both qualitative and quantitative criteria. Development of local investor capacity and ability to attract foreign capital are also key points of focus.

“Our partnership with Frontclear and this investment in the FTAP Partnership Facility is a further demonstration of Barclays Africa Group’s commitment to expanding and deepening financial markets across Africa. The investment allows us to immediately act on the findings of our Africa Financial Markets Index, which through expert analysis of the African financial markets, draws attention to the considerable investment opportunities and uncovers the untapped market potential” – George Asante, Head of Global Markets Africa (ex SA) at Barclays Africa Group

“We are delighted to formalize our partnership with Barclays Africa Group and look forward to working together in building more liquid, stable and inclusive interbank markets. The developments of these markets are critical to economic growth, stability and poverty alleviation.” – Philip Buyskes, CEO Frontclear

The FTAP Partnership Facility is a unique initiative, in that it teams-up international donors with regional and global banks, in a highly targeted effort to build inclusive interbank markets in frontier economies. Its trainings, advisory and research activities combine to remove the barriers to well-functioning capital markets in Africa, Asia and Latin America.

The TradeClear interbank guarantee facility aims to establish secured trading interbank trading environments in Africa. Under the program, Frontclear guarantees financial losses for all participants incurred due to counterparty failure, thereby stabilizing the interbank market and improving liquidity. It is expected that TradeClear will be implemented in Kenya in Q1 of 2018.

Shareholders are advised of the appointment of Ms Tasneem Abdool-Samad as independent non-executive director to the Board of Barclays Africa Group with effect from 1 February 2018. She will be stepping down from the Absa Bank Limited board (which she joined as an independent director in April 2016) with effect from 31 January 2018.

Tasneem holds a BCom degree and post graduate diploma in Accounting from the University of Natal, and is a qualified CA (SA). She started her career at Deloitte in Kwa-Zulu Natal and then moved to the University of the Witwatersrand, where she was a lecturer in auditing from 2003 to 2006. In 2006, Tasneem returned to Deloitte and subsequently served as a member of the Deloitte South Africa board until 2014.

Tasneem is a non-executive director of Absa Financial Services Limited, Reunert Limited, Long4Life Limited and Crookes Brothers Limited.

Johannesburg
16 January 2018

Enquiries:
Nadine Drutman (Group Company Secretary)
Nadine.Drutman@barclaysafrica.com
Tel: 011 350 4000

Independent lead sponsor to Barclays Africa Group:
J.P. Morgan Equities South Africa Proprietary Limited

Joint sponsor to Barclays Africa Group:
Corporate and Investment Bank, a division of Absa Bank Limited