Barclays Africa is committed to making a positive impact on society. Creating prosperity for our customers, colleagues and stakeholders is at the heart of our purpose as a bank. This is because we believe that by becoming the enabler of more inclusive economic growth we will ensure the sustainability of our own business, the communities we serve and the countries in which we operate.

Barclays Africa today launched a report which shows that, while Africa is experiencing unprecedented and exponential economic growth, Africans equate prosperity to achieving financial freedom by having enough personal wealth to live, without having to actively work to pay for basic necessities.

The 2014 Barclays Africa Prosper Report carries the results of a survey commissioned by Barclays Africa in which 7 000 people from 11 countries were asked what it means to ‘prosper’. The survey provides invaluable insights into what is important to people, their dreams and aspirations – essential intelligence if we are to contribute to building strong and sustainable economies on the continent.

The results are fascinating, and underscore the fact that Africa’s rising middle-class is effecting positive economic and socio-political transformation. What is particularly noteworthy is that nearly 80% of the respondents are between the ages of 18 and 35. This is significant because Africa has one of the highest youth populations in the world.

The findings will contribute to the growing body of knowledge about Africa’s socio-economic trends – specifically as it relates to prosperity and the financial aspirations of ordinary people. Gaining deeper insights enables all stakeholders to respond in ways that that can better enable the continent to fulfil its potential.

Watch the Barclays Africa Prosper report video

Named best FX Products (Overall) by clients

Barclays Africa has been named the top overall bank in the Risk South Africa Rankings 2014 survey for the fifth consecutive year.

“Maintaining our position as the top overall bank in South Africa, as voted by our clients, is an affirmation of the relevance of our client-centric approach and how it helps our clients realise their ambitions,“ said Stephen van Coller, Chief Executive of the Corporate and Investment Banking division of Barclays Africa.

In addition to the top investment bank award, Barclays Africa retained its first position ranking in FX Products (Overall) as well as Forward Rate Agreements, Repurchase Agreements, FX Options (US dollar/Rand), FX Forwards (US dollar/Rand), FX Swaps (US dollar/Rand), Credit Default Swaps, and Structured Products.

The bank also claimed first place in a new Delta One Products category and improved from second place to first in Interest Rate Exotics.

“We have a compelling advantage in Corporate and Investment Banking and it is a key segment for the group. This is a clear testament to the benefit that our clients are gaining through the combination of local presence and global expertise that only Barclays can provide on the African continent,” added Van Coller.

The poll is divided into four different sections: interest rate; currency; equity; and others (credit, commodities, structured products and sub-Saharan markets). All of the awards are based on the votes of dealers, brokers,

Accolades continue following recent win as ‘Best Investment Bank in Africa’

Following its recent awards for ‘Best Investment Bank in Africa’ and ‘Best M&A House in Africa’, Barclays Africa has now been named ‘Best Domestic Cash Management House’ in six African countries by the prestigious global news publication Euromoney.

Barclays Africa received the award for the first time in Botswana, Ghana, Kenya, South Africa, Zambia and Zimbabwe, as well as for the third time in the UK. The impressive series of accolades underscores the group’s dynamic, client-orientated corporate and investment banking offering across the continent.

The Euromoney Cash Management Survey is the most comprehensive guide to the cash management arena in the market, recognising leadership in cash management across a range of markets and criteria. It is widely considered the benchmark survey for the global cash management industry.

The winner is selected by leading cash managers, treasurers and financial officers worldwide. This year, Euromoney received a record 24,442 responses.

“We are honoured to be recognised by our clients as the best domestic cash house in six African markets,” said Stephen van Coller, Chief Executive of the Corporate and Investment Banking division of Barclays Africa. “This is a clear testament to the benefit that our clients are gaining through the combination of local presence and global expertise that only Barclays can provide on the African continent.”

Barclays Africa maintains an offering built on excellent client penetration and service, market-leading technology, and the strength and breadth of its products. Demonstrating the group’s ongoing commitment to providing state-of-the-art technology to clients, Barclays Africa is upgrading its Corporate Banking offering through the rollout of Barclays.Net and File Gateway across Africa, which will help to simplify and streamline the client experience. In addition, standardised payments infrastructure is also currently being implemented.

“Just one year after establishing Barclays Africa Group, these awards symbolise a significant milestone in our journey to become the ‘Go-To’ bank in Africa for our clients,” added van Coller. “We have a compelling advantage in Corporate and Investment Banking and it is a key segment for the group. We are making the requisite investments to drive its growth to ensure that we deliver on the targets and commitments we made to the market and our clients.”

Barclays’ unique cash management capabilities, combined with financing, risk management, advisory and investment banking services played a role in winning the award.

Barclays Africa Group announces the appointment of Francis Okomo-Okello and Alex Darko to the Board as independent non-executive directors with effect from 1 October 2014 to reflect the Pan-African nature of the Group. Additionally, Brand Pretorius has decided to step down from the Board having served as a non-executive director since 2009. Brand will continue as chairman of the Group Remuneration and Human Resources Committee (GRHRC) and as a member of the Directors’ Affairs Committee and the Social and Ethics Committee until 31 October 2014.

Commenting about the Board changes, Wendy Lucas-Bull, Chairman of Barclays Africa Group, said: “In line with our previously stated intention to appoint two additional Board members to reflect the Pan-African nature of the Group, it gives me great pleasure to welcome Francis and Alex to our Board.

They bring a wealth of knowledge and expertise and we look forward to their contributions. I also wish to thank Brand for his dedication, insight and wisdom during his tenure on the Board. Brand has decided to dedicate more time to both his community work and his family. He has made a significant contribution to both Absa and Barclays Africa Group and we shall miss his counsel when he leaves us at the end of October.”

On his decision to step down from the Barclays Africa Group Board, Brand said: “Over the past five years, I have enjoyed a rich, rewarding time as a member of the Absa and Barclays Africa boards. This was an exceedingly difficult decision for me to make but the time has come for me to focus on my leadership mentoring and coaching portfolio, the various community activities that I am involved in but more importantly, to commit more time to my wife and family, particularly my seven grandchildren.

I would like to thank Barclays Africa for entrusting me with such a stimulating responsibility and the opportunity to be part of its journey in becoming the ‘Go-To’ Bank in Africa.”

Mohamed Husain, Chairman of the Social and Ethics Committee and a member of both the Group Audit and Compliance and the Directors’ Affairs Committees, will succeed Brand as chairman of the GRHRC.

About Francis Okomo-Okello

Francis is the current chairman of Barclays Bank of Kenya Limited (Barclays Kenya). He holds an LLB Honours degree from the University of Dar-es-Salaam and is an Albert Parvin fellow of Woodrow Wilson School of Public and International Affairs, Princeton University, and a fellow of The Kenya Institute of Bankers. He serves as chairman of TPS Eastern Africa Limited (Serena Group of Hotels and Lodges), and as a non-executive director of the Nation Media Group.

Currently, Francis is the Executive Director in charge of Legal and Corporate Affairs at Industrial Promotion Services Group of Companies, an affiliate of the Aga Khan Fund for Economic Development. He also serves as a member of the Advisory Board of the Strathmore Business School, Strathmore University, Nairobi and is a member of the Advisory Committee of the Aga Khan University, Faculty of Arts and Sciences – East Africa.

About Alex Darko

Alex is a seasoned executive with over 30 years international management experience. He holds an MSc in management information systems and is a fellow of the Chartered Association of Certified Accountants. He held senior positions in finance, re-engineering, change management and IT in Europe, the USA and Africa; in areas such as business information, publishing, mining and the public sector.

Alex was Vice President, Knowledge and Information (Chief Information Officer) at AngloGold Ashanti Limited from 2005 to 2010 and was responsible for the Group’s Information Systems and Telecommunications function. Alex also serves on the Boards of Business Connexion Limited, Consolidated Infrastructure Group Limited and Mazor Group Limited

Barclays Africa commits to powering Africa

Barclays Africa Group Ltd (Barclays Africa) today announced it has committed a minimum of US$500 million to a pipeline of proposed clean power projects that form part of the “Power Africa” initiative. This will increase the available power by up to 12 500 MWs in countries that participate in the programme. The aim of the initiative, which was launched last year by US President Barack Obama, is to improve access to electricity on the continent.

Several countries across Africa, including Kenya, Tanzania, Nigeria, Ghana, Liberia and Ethiopia, are taking part in the initiative to improve access to clean, reliable power for about 20 million new households and companies by 2018. According to recent reports, the scale of investment needed to achieve universal energy access in sub-Saharan Africa is about US$15 billion a year, every year through to 2030.

Leading role

Over the past number of years, Barclays Africa has played a leading role as a partner to developers and to other banks on energy projects that span almost all the countries where it has a presence across the continent.

According to Stephen van Coller, Chief Executive of the corporate and investment banking division of Barclays Africa, the company’s extensive experience, gained over many years, positions it well to support the expected growth in the energy sector on the continent. “Barclays Africa has a long-standing reputation in Africa, playing a significant role in realising African governments’ ambitions of sustainable and independent power supply,” says van Coller.

In November last year, Barclays Africa secured mandates to provide ZAR10.8 billion worth of debt funding to a total of six projects, including Wind, Solar PV and Concentrated Solar Power under the South African government’s third Independent Power Producer (IPP) Procurement round. The breadth of projects demonstrates Barclays Africa’s sector expertise. The biggest transaction was the Department of Energy IPP Peakers Power Project which was awarded Africa Power Deal of the Year for 2013 by Project Finance Magazine as well as African Renewable Energy Deal of the Year for 2013 by Project Finance International Magazine.

Focus on leadership

“Our sector focus and leadership demonstrates that we are well positioned to realise our vision of being the ’Go-To‘ corporate and investment bank in Africa,” says Philip Lindop, head of Investment Banking at Barclays Africa. “We expect the energy sector to continue to grow further in the coming decade. Given the need for power on the African continent, combined with increasing knowledge of and experience in how to execute these transactions, we expect that Barclays Africa will remain well positioned to partner with our clients in realising their ambitions,” added Lindop.

Barclays Africa is on track to meet growth commitments, achieves strong financial momentum.

Barclays Africa Group Limited (Barclays Africa) released its interim results on 30 June. The Group is on track to deliver on the ambitious targets laid out at its annual results in February. Financial results for the six months ended 30 June 2014 reflect a 10% increase in headline earnings to R6,1 billion underpinned by strong financial momentum across the business, despite a contraction in South Africa’s GDP in the first quarter of this year.

Salient features

• Diluted headline earnings per share (HEPS) increased 10% to 720,7 cents.
• Headline earnings in SA increased 6% to R5,1 billion and by 34% to R1,0 billion outside of South Africa.
• Barclays Africa Limited acquisition remained earnings enhancing
• Pre-provision profit increased 5% to R13,4 billion.
• Return on equity (RoE) improved to 16,1% from 14,3%.
• Interim ordinary dividend per share (DPS) increased 14% to 400 cents.
• Revenue grew 7% to R30,7 billion as net interest income rose 10% to R17,5 billion.
• Net interest margin improved to 4,56% from 4,45%.
• Non-interest income increased 5% to R13,5 billion and accounted for 44% of total revenue.
• Operating expenses grew 9% to R17,3 billion, increasing the cost-to-income ratio to 56,4% from 55,5%.
• Loans and advances to customers grew 5% to R614,6 billion, while deposits due to customers rose 5% to R597,6 billion.
• Credit impairments declined 7% to R3,6 billion, resulting in a 1,18% credit loss ratio from 1,35%, while coverage on performing loans increased to 70 basis points from 60.
• Non-performing loans (NPLs) improved to 4,6% of gross loans and advances to customers from 5,3%.
• Net asset value (NAV) per share declined 2% to 9 261 cents, due to the R6 billion special dividend paid in November 2013.
• Barclays Africa Group Limited’s Common Equity Tier 1 (CET1) ratio was 11,8%, well above regulatory requirements and our board range.

Barclays Africa Group Limited (Barclays Africa) is on track to deliver on the ambitious targets laid out at its annual results in February. The Group’s financial results for the six months ended 30 June 2014 reflect a 10% increase in headline earnings to R6,1 billion underpinned by strong financial momentum across the business, despite a contraction in South Africa’s GDP in the first quarter of this year. Growth in Barclays Africa’s markets outside South Africa remained resilient, notwithstanding a slowdown in key economies such as Ghana and Zambia.

Maria Ramos, Chief Executive of Barclays Africa Group Limited says: “We have taken the time to develop the right strategy for Barclays Africa and have been very clear that this would take three years to deliver. Our results for the first six months of the year demonstrate the traction we are gaining in executing on this strategy and how well we are progressing towards realising our ambitions on the continent. We are transforming the business in the right areas by executing on our four strategic priorities and are determined to accelerate our momentum even faster.”

In February, Barclays Africa outlined four clear targets to grow the business. These include:

• to be top three by revenue in the Group’s five largest markets by 2016,
• to achieve an ROE in the range of 18-20% in 2015,
• to achieve a cost-to-income ratio in the low 50s by 2016, and
• to achieve a revenue share of 20-25% from outside of South Africa by 2016.

Maria Ramos says: “Six months into our three year strategy, we are exactly where we wanted to be. We have grown our revenues by 7% while our return on equity has improved to 16.1% and we are confident that we can achieve the necessary milestones this year to reach our 18%-20% target.

As expected, our cost-to-income ratio has increased because of the investments we are making to transform the business over the medium term. Growth outside of South Africa has been strong and this portfolio now constitutes 20% of Group revenue which is already within the range we have set as a target for 2016.”

To deliver on our One Africa strategy, Barclays Africa prioritised four strategic areas to execute in 2014 and solid progress has been made on each of these:

• The turnaround programme for the Group’s South African Retail and Business Banking (RBB) franchise, based on simplifying processes, reshaping our branch network and investing heavily in our digital products, is taking effect. Customer numbers have stabilised and the Group has reported growth in important segments like the core middle market and commercial segments. RBB’s headline earnings increased 9% to R3,8 billion largely due to a strong performance from Home Loans as credit impairments declined.
• Investing in corporate banking across the continent is paying dividends. Corporate and Investment Bank recorded a 24% increase in headline earnings to R1 903 million, driven by solid revenue growth across all core business units (corporate revenues increased by 11% and investment bank revenues by 20%) as well as focused cost management.
• Having obtained the license for Barclays Life Assurance Kenya, already early signs of capturing the growth opportunity in our Wealth, Investment Management and Insurance franchise are emerging. While the business reported flat headline earnings of R688m, solid headline earnings growth for Wealth and Investment Management (11%), Short-term Insurance (11%) and Fiduciary Services (24%) were offset by Life insurance earnings and a loss after tax in the Distribution business.
• Barclays Africa has further built out the strength of its management team over the past six months and is investing in talent retention.

Maria Ramos concludes: “By the end of the year I expect that we will have made further progress in the turnaround of our Retail and Business Banking business with a particular focus on our business banking franchise. We will also have significantly advanced the roll-out of our corporate business and completed our next phase of expanding our insurance business into East Africa. If we continue to execute well on our stated priorities, I have no doubt that we will become the ‘Go-To’ Bank in Africa – the destination of choice for customers and clients.”

The Corporate and Investment Banking division of Barclays Africa Group Limited (Barclays Africa), today listed the world’s largest platinum exchange traded fund (ETF), NewPlat, on the Stock Exchange of Mauritius (SEM). 400,000 NewPlat debentures were listed on the SEM.

First listed on the Johannesburg Stock Exchange (JSE) in April 2013, NewPlat provides investors on the SME the opportunity to invest directly in platinum bullion as it tracks the platinum price. Each debenture is equivalent to approximately 1/100th of a fine troy ounce of platinum bullion held in a secure depository on behalf of investors.

NewPlat has approximately R14.2-billion assets under management backed by 28 tonnes of platinum bullion. NewPlat became the most traded platinum ETF in the world – just four months after it first listed.

Widening the choice

“The listing of NewPlat on the SEM will help to further expand the Mauritian investment market by widening the choice of asset classes available to local investors, and by also helping facilitate an increase in liquidity on the SEM,” said Vladimir Nedeljkovic, head of Exchange Traded Products at the Corporate and Investment Banking division of Barclays Africa.

NewPlat’s listing on the SEM follows hot on the heels of the listing of Barclays Africa’s fully backed physical gold bullion ETF, NewGold, in July last year. NewGold is also listed in Botswana, Nigeria and Ghana.

The SEM, however, is the first bourse outside of South Africa to list both NewPlat and NewGold and marks yet a further step in broadening the suite of exchange traded products in African markets, and in helping investors reach their ambition in the right way.

“In rolling out both NewGold and NewPlat across the continent, we endeavour to help people prosper and deepen African investment markets through the provision of greater liquidity,” says Nedeljkovic.

Exciting and vibrant platforms

“As Barclays Africa, we believe that African bourses provide exciting and vibrant platforms for our innovative and pioneering exchange traded products. Furthermore, we are delighted to bring world class financial products to local investors at competitive rates.”

ETFs are among the fastest growing investment funds in major markets across the world. In the case of NewPlat or NewGold they offer a low risk route to investing in physical metal without incurring the risks associated with mining the metal posed by equity investments. In addition, ETFs are attractive because of their low costs, tax efficiency and stock-like features.

Barclays Africa’s exchange traded products team was recently ranked first in the ETF category in the 2013 Risk South Africa Rankings survey.

Barclays Africa named ‘Best Investment Bank’ and ‘Best M&A House in Africa’ at Prestigious 2014 Euromoney Awards

Group Also awarded ‘Best Bank In Ghana’

Barclays Africa has been named “Best Investment Bank in Africa” and “Best M&A House in Africa” by the prestigious global news publication Euromoney. The awards ceremony, held at London’s Natural History Museum on Thursday, 10 July, added to a series of recent accolades confirming Barclays Africa as the leading adviser on debt access and business acquisition on the continent.

The Euromoney Awards for Excellence are given each year to honour those institutions that have brought the highest levels of service, innovation and expertise to their customers and industries. The awards are widely considered the most prestigious recognition in the financial services industry.

The award for ‘Best Bank in Ghana’ follows recent recognition as ‘Best Bank in Cash Management’ by Euromoney in 2010 and ‘Best Bank in Ghana’ by The Banker in 2012.
“Less than one year after establishing Barclays Africa, these awards symbolise an important milestone in our journey to achieve our ambition becoming the ‘Go-To’ bank in Africa,” said Maria Ramos, Chief Executive Officer of Barclays Africa Group. “This recognition is a testament to the powerful combination of deep local presence and global expertise that only Barclays can provide on the African continent.”

High-profile transactions

Barclays Africa has been involved in some of the most high-profile transactions on the African continent in the past 12 months. These include acting as joint bookrunner on Steinhoff International’s Є465m convertible bond, sole bookrunner on Metair’s ZAR1.5bn capital increase and sole bookrunner on the ZAR321m accelerated placing of Gold Fields’ residual stake in Northam Platinum. Barclays’ ECM team also acted as joint adviser and sole sponsor on Glencore’s inward listing on the JSE – the largest listing on the JSE in over ten years.

“We are honoured to be recognised as the best investment bank in Africa and best M&A house in Africa. This recognition confirms our leadership position as Africa’s premier M&A, equity, debt, ratings, project finance, risk solutions and foreign exchange adviser,” said Stephen van Coller, Chief Executive Officer of the Corporate and Investment Banking division of Barclays Africa. “You can expect to see continued innovation and investment in this business over the coming years as we extend our product offering into new markets across Africa.”

He believes that Barclays Africa’s unique product capability across financing, risk management advisory, combined with its global integrated investment banking platform, delivers world-class investment banking services to its clients across Africa and played a role in winning the award.

“Our clients are the visionaries, and we are proud that as one of only a few banks that can provide debt financing locally and internationally, delivering multi-product, bespoke financing and advisory solutions that we can help our clients realise their ambitions,” said Philip Lindop, head of Investment Banking at Barclays Africa.

Making strides

Barclays Ghana Managing Director Patience Akyianu, who was in attendance to receive the award, said the recognition was testimony of the strides the bank is making towards the goal of becoming the bank of choice by delivering better value banking to the Ghana market.

“This Euromoney Award for Excellence recognises our enhanced value proposition to our customers through the introduction of innovative products and services that provide easy banking solutions,” said Ms Akyianu.

Barclays Ghana has operated in Ghana for over 95 years and has an extensive retail and corporate banking network across the country; comprising 58 branches, five Agencies, 10 Premier Life Centres, two Premier Suites and eight Local Business Centres. Barclays also has 137 ATMs spread across the country.

Barclays Ghana continues to benefit from investments made in previous years, which has seen the bank post steady growth since 2012. The bank’s impressive performance is underpinned by numerous initiatives, including significant enhancement of customer service experience as well as improved operational efficiencies and control environment.

Youth unemployment is an important issue all around the world, particularly in Zambia where more than half the population is under 20 years old.

Young Zambians want to become more economically independent and want to have the skills and resources to achieve their ambitions, and Barclays has a range of initiatives aimed at supporting them.

The southern African country is the only one on the continent where all three of our global community investment programmes are being delivered: Banking on Change, Barclays Spaces for Sports, and Building Young Futures.

Through 5 Million Young Futures, we have committed to invest not only our money, but our colleagues’ time and expertise in community programmes that enhance the enterprise, employability and financial skills of disadvantaged young people. We want to support five million young people by 2015.

Banking on Change

Over 60% of Zambians have no access to formal financial services. Banking on Change – a partnership between Barclays, CARE International UK and Plan UK – aims to change that by breaking down barriers to financial inclusion for people living on less than US$2 a day.

Raphael Tembo – who lives in the Chimbobo district around two hours north of the capital Lusaka – is just one of the young people learning to save and manage their money through the programme. With the skills he has learnt, Raphael has saved to grow his welding and piggery businesses, enabling him to provide greater security for himself and his mother when times are hard.

Before Banking on Change, Raphael lacked the skills he needed and used to run his business “idly”. Now he has new goals and a business plan: he hopes to attend college to study metalwork, and move from his welding bench on the side of the main road through his village to his own welding shop. Raphael coordinates a savings group for young people in his community and aspires to open a bank account in the future.

Barclays Spaces for Sports

At the Barclays Sports Centre in Lusaka, charity Grassroot Soccer is harnessing Zambians’ passion for football to give young people the confidence and skills to get into employment, education or training. Many participants progress through the training and become coaches who mentor other young people and give back to their local communities.

Aaron Kapoma is one young coach who has found employment thanks to Grassroot soccer. He gained crucial interview skills through the programme, as well as the communication and people skills that have helped him in his new job in local government.

Barclays volunteers also support participants by delivering training to help them improve their financial and employability skills.

Building Young Futures

At Mtendere market just outside of Lusaka, Nsamwa Daka leads a group of women who run a small catering business.

Nsamwa once battled with drugs and alcohol, but she is now not only a budding entrepreneur but a true role model for the women in her community. Many of the women are survivors of domestic violence, and the kitchen provides them with a safe environment, food and source of income. Nsamwa received business training and mentoring from our Building Young Futures partnership with UNICEF, which provides young people with the skills they need to start their own business or get a job.

“My dream is to empower every one of the women going through the programme to start their own business,” said Nsamwa

Down the road from Nsamwa, Morris Siwakwi and Dainess Kabaso have set up their own tailoring business. Before the training they were both unemployed. When they first started, they worked outside making products on the street. They now work from their own shop, and have ambitious plans to expand and employ more people.

The business not only allows them to afford the basic things in life, but Morris is using the profits to send his brother to school. Dainess is excited about what the futures holds: “If you come back in one year I think you will see that we are a very big business – even too big for this store.”

The power of collaboration

Citizenship is as much about the impact we have through our products, services and day-to-day decisions, as it is about investing in communities. Zambia is home to the Barclays-GSK Partnership, which aims to increase access to affordable healthcare and medicines, while creating improved economic conditions for growth.

The partnership is investing £7m over three years to help remove financial barriers to healthcare access while supporting small business development and job creation. Using the resources and expertise of both organisations, our goal is to establish a mode that can be replicated across Africa.

To find out more about Citizenship at Barclays, and how we live our Values in countries around the world, visit our Citizenship page.