Barclays Africa sets the record straight on closing operations in Africa

AFRICA

Barclays Africa on Monday announced that it was not closing its operations in Africa in response to viral reports stating that Barclays was leaving Africa. According to the article published on Financial Times on Friday, Barclays’ new Chief Executive, Jes Staley, was  to announce the exit of the British bank from Africa on Tuesday.

“After a review of the African business led by Jes Staley, the bank’s board decided last week that in principle it made strategic sense to get out of the continent, according to people familiar with the matter,” read the article on Financial Times.

It would be recalled that Ventures Africa also published a closely related article on Sunday, explaining probable reasons why the company may be exiting the continent as well as the possible buyers for the Bank’s operation in Africa. However, Barclays Africa sent in a tweet stressing that the company would not exit its African operations and no jobs would be lost.

The company also sent out a series of messages on their twitter page, informing people about its commitment to Africa:

The post Barclays Africa sets the record straight on closing operations in Africa appeared first on Ventures Africa.