Tag Archives: Barclays

Barclays: Latest News

  • 10 Innovative Startups Selected To Participate In The 2017 Barclays Accelerator Program

    Fintech startups - Announcing the Barclays Accelerator, Powered by Techstars Cape Town Class of 2017. Photo - Techstars By Peter Pedroncelli, 4:38 am AFKI Original

    The Barclays Accelerator Program, powered by small and medium business empowerment organization Techstars, is a startup program of networking, mentoring and development at Rise, Barclays Africa Group’s fintech innovation hub. Selected from a large group of applicants from 50 countries, Barclays will work closely with 10 chosen startups to explore promising new technology-based solutions that can benefit the financial services industry and their customers.

  • South African Ratings Downgrade Is Hurting Barclays Africa Exit Plan

    Barclays Africa exit plan By Reuters, 9:48 am

    The pool of potential buyers is shrinking that Barclays’ can sell shares to in its African business. Some institutional investors, including pension funds, do not allow them to hold an asset that’s sliding on credit ratings. Barclays is struggling to find one strategic buyer that will satisfy South African regulators and is looking to sell its remaining 50% stake in chunks. More than 80% of its revenue is in South Africa. “Banks are paying the price for political uncertainty that we’ve seen in the country over the past two weeks,” a fund manager said.

  • Barclays Launches E. Africa’s First-Ever Gold-Backed Exchange Traded Fund

    first-ever gold-backed exchange traded fund By Dana Sanchez, 5:17 pm

    Each security is equivalent to 100th of an ounce of gold and is backed by physical gold. The Nairobi all-share index hit a 47-month low March 8, driven down by bank stocks and a Safaricom selloff. Having local currency exposure to the spot price of gold is attractive to local pension funds and others restricted in overseas investment. “It makes sense to be adding complexity to the stock exchange… Barclays is ‘pushing at an open door by launching a gold-based ETF,” an investment advisor said. “There’s clearly demand for gold here because people see it as a store of value.”

  • Is MTN Recruiting Bankers Because It Wants To Buy Barclays Africa?

    By Dana Sanchez, 11:56 am

    MTN making a bid to buy Barclays Africa assets might sound far-fetched and ridiculous – but an MTN bank with operations in 14 African countries would shake up both the cellular and financial services industries. MTN has a track record in integrating big assets. Two new hires at MTN include top-ranking executives with heavy banking experience. Building its own fintech solutions would be expensive for MTN. The trend is for fintech startups to partner with banks rather than telecoms.

  • 12 Things You Didn’t Know About African Banking Magnate Bob Diamond

    By Keren Mikva, 8:33 am

    Diamond has been criticized for overpaying for deals in the past. Considering Atlas Mara’s poor performance in the first quarter of 2016, Diamond is having some difficulty persuading investors to get on board with his strategy for acquiring Barclays Africa. In the past, he’s been criticized for overpaying for deals, and the company’s shares are trading at less than half their initial public offering value when Atlas Mara launched in 2013.

  • Banking In Southern Africa: More Mature But Not Fully Developed

    Banking in Southern Africa By Kurt Davis Jr., 8:45 am AFKI Original

    South African commodities will likely feel more pain in the second half of 2016. Some argue that a potential sale of Barclays Africa is influenced by the significant drop in its value relative to the rand and the subsequent effect on the JSE. Customers in Africa, at the end of the day, all want better access to financial services. Banks must be efficient, competitive and reduce cost to retail customers in mature and immature markets. That would benefit the entire continent, not simply Southern Africa.

  • Motsepe’s New Firm African Rainbow Capital Could Become A Barclays Investor

    African Rainbow Capital By Dana Sanchez, 1:27 pm

    South Africa’s first black billionaire, Patrice Motsepe, has benefited from South Africa’s black economic empowerment laws. Now he’s helping empower other black South Africans with African Rainbow Capital — part of his plan to create a world-class, black-owned financial services giant. Barclays is on his radar. If the deal is done right, ARC could consider investing in the bank.

  • 8 Things You Didn’t Know About Absa CEO Maria Ramos

    By Julia Austin, 9:08 am AFKI Original

    Did you know she championed economic equity for women? As a student, Ramos worked as a clerk at Barclays to pay for her university education. During that time, she learned of an all men’s scholarship offered by the bank. Ramos lobbied to have the bank offer the scholarship to women, and eventually won the Barclays Bank Graduate Scholarship. Here are 8 things you didn’t know about Absa CEO Maria Ramos.

  • Is There A Mo Bank In Africa’s Future? Africa’s Youngest Billionaire Gets Serious

    Tanzania's Richest Man By Dana Sanchez, 2:49 pm

    When U.K-based Barclays announced earlier this month it was selling its Africa business, several stakeholders’ names came up as possible buyers including South Africa’s Public Investment Corporation, Atlas Mara’s Bob Diamond and National Bank of Abu Dhabi. At age 40, Tanzania’s richest man, Mohammed Dewji, has taken on big brands in Africa, pitting his Mo Cola against Coca-Cola, and now he’s got his eye on Barclays Africa.”I’ve been wanting to buy a bank for the last four, five years,” Dewji told CNN. “I’m very interested.”

  • English Premier League Trophy On Show In Cape Town

    Manchester United Striker Wayne Rooney By Peter Pedroncelli, 12:19 pm

    English soccer fans in Cape Town will be able to experience the top flight’s official fan park, Barclays Premier League Live in March, 2016. The fan park will be held at the Camps Bay High School on 19 and 20 March, with entry to the event free of charge.

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