Barclays brand to be phased out
Tuesday, March 07, 2017
However, the Barclays Africa Group Limited (BAGL) will continue to operate under a different name in Botswana and eight other African countries. In South Africa, BAGL operates under its flagship, ABSA brand.
Last week, London-based Barclays Plc applied to South African authorities to reduce its shareholding in BAGL to below 50%.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...