Absa Group Limited (“Absa”) today announced that the combination of Absa with Barclays African businesses had cleared the final hurdle, opening the way for this transformational deal to be delivered on 31 July 2013.

The necessary conditions have been fulfilled (or, where appropriate, waived) to conclude the combination of Barclays Africa and Absa, including regulatory approvals in Botswana, Ghana, Kenya, Mauritius, Seychelles, South Africa, Tanzania, Uganda and Zambia.

Commenting on the development, Absa Group Chief Executive and Barclays Chief Executive Africa Maria Ramos said: “This is a momentous achievement for Barclays in Africa. The deal marks an extraordinary milestone that sets us firmly on course to become the ‘Go-To’ bank on the continent. It means that we can accelerate Africa’s true global potential by supporting the development of capital markets and providing a greater range of financial services on the continent.”

Reflecting the enlarged group’s pan-Africa focus, Absa Group Limited will change its name to Barclays Africa Group Limited on 2 August 2013. The Absa brand will still be used in South Africa while the strong Barclays brand will remain elsewhere.

Strengthened footprint

Barclays will hold 62.3% of Barclays Africa Group Limited through the issue of 129.5 million ordinary shares by Absa, representing a value of approximately R18.3billion.2 Barclays Bank Kenya Limited and Barclays Bank Botswana will continue to be listed on their respective stock exchanges.

“As we previously announced, Egypt and Zimbabwe are not included in this transaction but they remain an integral part of our African business and we will continue to run them on an operational basis, Maria Ramos added.

She concludes: “We have created one of the leading banking groups in Africa, strengthening our geographic footprint and increasing our growth opportunities on the continent. By capitalising on our heritage and seizing the opportunity in some of the fastest growing economies in the world, we are well positioned to win in Africa.”

1. With the exception of National Bank of Commerce (NBC) in Tanzania and Absa’s representative offices in Namibia and Nigeria.
2. As set out in the circular to shareholders dated 14 December 2012

Barclays Mauritius has already experienced a 50% increase in the use of eStatements this year.

As a global organisation, Barclays constantly strives to deliver a superior customer experience and embraces progressive technology to accomplish this goal. Striata’s electronic statement solution was found to complement these objectives perfectly. This led to Barclays Mauritius being the first of many Barclays Africa banks to go live with this innovative solution from Striata, global provider of electronic bill and payment solutions.

Barclays successfully implemented Striata’s eStatement solution in its Consumer and Corporate Banking divisions and has already experienced a 50% increase in the use of eStatements this year. It now also offers credit card customers this convenient solution. Striata’s ‘push’ email solutions are suited to all market types, including emerging markets such as Mauritius, as all that is required from the customer is a valid email address. Barclays is also committed to the reduction of its carbon footprint. Going paperless has helped contribute to its environmental conservation efforts.

“Barclays is committed to continually developing innovative solutions to make our customers’ experience of banking more convenient and user friendly. Delivering statements via email offer them a far more convenient solution than the current postal system allows. Striata’s Secure Push eStatement solution also improves efficiencies, is an eco-friendly, paperless channel and has helped us realize immediate, cost savings,” says Nathan Carr, Chief Operating Officer of Barclays Bank Mauritius Limited.

Michael Wright, CEO of Striata, explains that Striata’s eStatements are created as a secure, encrypted PDF email attachment and can only be accessed through the use of a shared secret – a combination of personal and customer banking data.

Security of the eStatement is fundamentally two-factor authentication; recipients need access to their email inbox, as well as knowledge of the shared secret. Security is further enhanced by the decryption process, which is offline and local to the recipient’s computer – providing Barclay’s customers with peace of mind that their eStatement is totally secure.

Customers who wish to receive statements issued through this new secure process should contact their local branch.

Barclays Bank of Uganda Limited introduced Worldmiles, a unique airline-independent membership programme for Premier Banking customers with Platinum debit cards. Worldmiles allows Barclays Premier customers to earn and redeem miles on any airline of their choice across the globe on purchases made using their Platinum debit cards.

The Barclays Bank of Uganda Limited Managing Director, Charles Ongwae said, “The Worldmiles programme is one of the ways in which we are helping our customers achieve their ambitions.”

Barclays Premier customers who use their Platinum debit cards to pay for purchases, will now earn Worldmiles, which they can spend against reward flights with any airline, to any destination in the world. For every shilling a customer spends using their platinum debit card, they earn one Worldmile.

After a customer has collected 10 000 000 and more Worldmiles, these can be redeemed against an airline ticket up to the value of UGX 100 000. Every additional 100 Worldmiles earn a customer one shilling towards flight ticket purchases. Customers can also purchase airline tickets with a combination of Worldmiles and cash, paying the difference using their Platinum debit cards.

Besides the Worldmiles programme, Barclays Platinum debit cardholders enjoy benefits like using their debit card to pay for purchases at VISA-enabled point of sale terminals, VISA global customer assistance, medical and legal referral, purchase protection and access to a range of hotels and leisure facilities on preferential terms.

“Our aim is to provide all our customers with a great banking experience that

Absa Group Limited confirms that it received notice that Mr Pravin Gordhan, South Africa’s Minister of Finance, has approved the combination of the majority of Barclays Africa operations with Absa. This follows overwhelming support for the strategic transaction from Absa minority shareholders in February.

Maria Ramos, Chief Executive, Absa, Chief Executive Africa, Barclays said: “We welcome the approval by Minister Gordhan. This is an important milestone in the transaction in furtherance of our One Africa strategy and reflects South Africa’s commitment to creating the right conditions and climate for foreign investment into the country and the continent.”

Absa and Barclays are committed to satisfying the outstanding conditions relating to the proposed transaction.

As announced on 5 April 2013, Absa will announce a revised transaction timeline in due course and expects that the transaction will be completed within the dates allowed for under the sale and purchase agreement between Absa, Barclays Africa and Barclays plc. The combined, JSE-listed business would serve approximately 14,4 million customers and employ around 43 000 people across ten countries.

Barclays Bank of Kenya has launched a mobile banking app with similar functionality to its full online banking platform. This follows the mass adoption of its Pingit app, which allows users to make and receive payments with just a mobile number.

The new app will not only allow customers to view their balances and the most recent transactions, make transfers between accounts and pay bills but will also offer customers real-time access to their credit card and loan transactions, which is a first in the industry.

Barclays Bank of Kenya Managing Director, Jeremy Awori noted in a market such as Kenya and indeed in the rest of the third world, Mobile phones are increasingly becoming a key tool for economic and social survival with a proven capacity to act as development catalysts.

The click of a button

“The Kenya mobile banking arena is also fast developing and shaping the landscape of cashless transactions and this app is aimed at ensuring convenience in Internet banking service. Our customers will not have to queue for hours to be served; instead the click of a button will do the magic,” added Awori.

The app which will be at no charge can be accessed by customers who have already registered successfully for Barclays internet Banking and will be made available on the app store for upload on both Ipads and devices running on Android and Apple

Barclays Bank of Kenya is laying great emphasis on technology, product innovation and customer service. This new digital drive is part of Barclays Bank One Africa strategy and corporate goal to become the ‘Go-To’ bank on the continent

The National Bank of Commerce (NBC) launched a two-and-half-month campaign for their Islamic Banking customers to win two fully paid packages for two people to perform Hajj in October 2013.

Speaking during the promotion launch at NBC Head Office, NBC’s Head of Islamic Banking, Yassir Masoud said, “We are very excited to be launching the second round of this campaign. The Hajj promotion was launched for the first time in Tanzania last year and the results have been excellent. We managed to send two of our Islamic Banking customers and their selected partners to Hajj and received very positive feedback from them”.

Commenting on behalf of the Managing Director, NBC’s Head of Treasury Pius Tibazarwa said,

“We highly value our customers and the relationship we have with them and this promotion is another way of expressing our appreciation to our Islamic Banking customers for supporting us.” He added “This is the second time that our bank is running such a promotion and in the future we are expecting to send even more customers for this spiritual journey.”

NBC started offering Islamic Banking services in May 2010. Currently the services offered are Islamic Savings, Islamic Current, Islamic Business and Islamic Corporate accounts. These products are interest free, in compliance with Shari’ah laws, and are open to any customers who are interested regardless of their faith.

The promotion will culminate in a grand draw to select the winners, on 13 September 2013. Inclusive in the package are flight tickets, accommodation and spending money during their time in Mecca.

The strategic combination of the majority of Barclays Africa operations with Absa Group Limited (“Absa”) cleared a crucial hurdle today when Absa minority shareholders overwhelmingly voted in support of the transaction. Shareholders also approved the change of name of the JSE-listed entity from “Absa Group Limited” to “Barclays Africa Group Limited” to reflect the enlarged nature of the business. The change of name would take effect once the transaction closes, which is expected in the first half of 2013 subject to the required regulatory approvals and fulfilment of other conditions precedent.

Once completed, Barclays Africa Group Limited will hold 100% of the shares in Barclays Africa Limited, the proposed holding company for the in-scope businesses as outlined in the Circular to Shareholders dated 14 December 2012.

Absa Group Chief Executive Maria Ramos said after the shareholders vote: “This is an exciting and transformational deal that will create a high-quality franchise in Africa with a leading network of more than 1 300 outlets and 10 400 ATMs across ten countries. The vote of confidence from Absa’s independent shareholders today is an important milestone in our journey towards becoming the ‘Go-To’ bank across Africa.”

The combined, JSE-listed business will serve approximately 14.4 million customers and employ around 43 000 people across ten[1] countries.

Results of the General Meeting:

• Ordinary Resolution to approve the proposed transaction: 96% in favour. For purposes of the JSE listing requirements, the votes of Barclays Bank PLC and its associates are excluded
• Special Resolution to approve the change of name: 99% in favour
• Special Resolution to approve the allotment and shares in issue: 98% in favour
• Ordinary Resolution to grant authority to give effect and implement all the resolutions: 99% in favour.

As part of a regional entrepreneurship awareness campaign, ‘Unlocking Youth Potential’ , a team of volunteers from across Barclays Seychelles will spend half a day coaching some 40 young, aspiring entrepreneurs on Wednesday 12 June, 2013 at the STC Conference Room.

The aim is to introduce the youth to the concepts of entrepreneurship, critical thinking and communication. The ‘Unlocking Youth Potential’ is a platform that will empower the youth with the skills to develop their ideas, grow their business and help them to achieve economic independence.

Commenting on this initiative, Barclays Seychelles Acting Managing Director Gift Moonga said, “As an organisation, Barclays has a clear sense of our business purpose, which is to help people achieve their ambitions in the right way. Our Citizenship agenda captures that purpose. Demonstrating our commitment to the Citizenship agenda is one of our key priorities, and our Stewardship value encourages us to leave things better than we found them. We do this through community investment programmes and the direct efforts of our colleagues.”

Colleen Morel, Head of Citizenship, added ‘‘The ‘Unlocking Youth Potential’ campaign focuses on entrepreneurial education of youth. This initiative is a skills-sharing platform that provides colleagues with volunteering opportunities to promote entrepreneurial thinking and culture among the youth. Through this initiative, we will positively impact not only the ambitions of Seychelles youth, but also the communities in which we live and work.

Seychelles joins twelve other countries in which Barclays has a presence on the continent, in the implementation of this initiative.

Today, the National Bank of Commerce (NBC) management formally welcomed their New Managing Director, Mizinga Melu. She was formerly with Standard Chartered Zambia, where she served six years as the Managing Director of the bank.

Melu is a seasoned banker with vast industry experience, having previously served in several other senior roles at Standard Chartered. The roles included Global Head of Development Organisations in the United Kingdom where she was responsible for strategy development and implementation; as well as Africa Regional Head of Financial Institutions in Kenya and South Africa where she led formulation of Standard Chartered’s FI business strategy in Africa.

Not new to Tanzania, Melu has served as Head of Treasury at Standard Chartered Bank Tanzania between 2000 and 2003. Prior to that role, she acted as Head of Treasury in Uganda and Zambia in 1998 and 1999, respectively.

In addition to holding an MBA from Henley Management College (UK) and being an Associate of the Chartered Institute of Bankers (A.C.I.B), Melu holds numerous other banking qualifications.

Melu will be taking over from Interim Managing Director Pius Tibazarwa, who is also Head of Treasury at NBC. Tibazarwa has been upholding the Managing Director’s office, since the beginning of the year.