Barclays Urges Clients To Remain Calm Amidst Changes

Lindiwe Mozola | Monday July 10, 2017 15:12

Kumar said the developments are a result of the Barclays Group United Kingdom (UK) last year’s strategy to reduce its presence in Africa.

Kumar was speaking during the Barclays dinner held at Majestic Five Hotel recently in a bid to address the clients on the new developments. Botswana and other African countries will in the next three years no longer be tied to the Barclays Group, however it will continue to operate under a new name and brand.

 “This meant stripping down 12 African countries shares from 62% to 14% and intended to stay minority shareholder which also meant that the Barclays brand will be withdrawn from the market within three years.

 “Botswana as well as other African countries was given until year 2020 to look for the new brand that will replace Barclays brand to new entity, Pan African unity ran by Africans,” Kumar said. He said that there is however a huge advantage in the arrangement as now Africans will run the bank hence will be more relevant to their societies.

He said currently they have embarked on a survey to hear from clients what they expect the new brand to offer and many other ideas. Kumar said these exercise would take six to nine months.

He also assured the customers that nothing would change, although the brand will change, if anything there will be much improved service. He said they would remain the best financial institution. On their part clients that thronged the dinner wanted to know if the development will affect their services with the bank and should they be worried.

Ditapole Tsheboeng who has been with the bank for over ten years wanted to know how the change will affect African society and what strategies will they put in place to avoid losing loyal customers. Kumar assured Tsheboeng that they intend to interact with their clients to consult and educate them more on the new development. He said, “This dinner is a typical example as we want to instill more knowledge beyond what the media reports”. Palapye assistant district commisioner Enerst Phiri wanted to know if the development would not amount to job losses as such a transformation usually leaves other employees without jobs.

Kumar responded that hardworking and committed employees who serve the organisation altruistically have nothing to fear.