Barclays Bank Botswana responds
Barclays PLC has through Barclays Bank Botswana (BBB) released a statement following the recent press speculation regarding a potential sale of its shareholding in Barclays Africa Group Limited (“BAGL”).
The statement released this Monday from BBB notes that, the Board continues to evaluate its strategic options in relation to its BAGL shareholding and expects to update the market when it announces its 2015 full year results on 1 March 2016.
“Consequently, BAGL shareholders are advised to exercise caution when dealing in BAGL shares. The BAGL Board confirms that BAGL will continue to operate in the normal course of business. “BAGL is the majority shareholder of BBB. It is not anticipated that the update by Barclays PLC will affect the shares listed on the Botswana Stock Exchange. Nevertheless BBB shareholders are advised to exercise caution when dealing in BBB Shares.”
BBB which has been in the Botswana market for 65 years has indicated that it has a clear strategy in Botswana and remains focused on executing that strategy.
“BBB is a profitable business, well capitalised and is financially independent of Barclays PLC. BBB is in a strong liquidity position and will continue to ensure that it is able to deliver services and value to all its stakeholders. BBB continues to offer its customers cutting edge financial solutions.
BAGL is the majority (and in some cases sole) shareholder of the BAGL operations in South Africa, Kenya, Botswana, Ghana, Zambia, Mauritius, Mozambique, Seychelles, Uganda and Tanzania (Barclays Bank Tanzania Limited and National Bank of Commerce Limited).