Barclays Africa Group discusses new strategy with President Faure |11 April 2018

The deputy chief executive of Barclays Group Africa, Pete Matlare, yesterday met President Danny Faure at State House to share the strategies Barclays are developing to transform and invest in the Seychelles.

This forms part of the Group’s broader investment strategy across the continent.

Also present during the discussions held with President Faure were Caroline Abel, governor of the Central Bank of Seychelles (CBS) and Johan Van Schalkwyk, managing director of Barclays Seychelles.

Mt Matlare joined the Board as an independent director in 2011. In August 2016, he was appointed deputy chief executive responsible for the rest of Africa businesses and he remains on the Board as an executive director. He is also a member of the Information Technology Committee and Separation Oversight Committee.

Mr Matlare is also in the country to discuss the transition that will take place over time regarding Barclays Africa Group, in terms of the branding and how it will evolve.

It is in relation with Barclays Africa Group Limited’s (BAGL) intention to change the Group’s name from “Barclays Africa Group Limited” to “Absa Group Limited”, with the Barclays brand being used in the rest of Africa up to June 6, 2020.

This is subject to an additional two-year run off period in respect of debit and credit cards.

“We discussed with the president the requirement of good partnership for making sure that we continue to invest in best practices and best technologies. So that ultimately the customer or the consumer has a much better proposition. We also discussed the kind of issues that allow you to continue to attract great investment, opening up capital markets etc…,” said Mr Matlare.

Regarding the change of name from Barclays Africa Group to Absa Group Limited, Mr Matlare said they have been in discussion and were advised by the Central Bank that they should retain the name of Barclays until 2020.