Barclays MD position to be localized

The Minister of Finance and Development Planning, Kenneth Matambo told Parliament on Monday that the current MD, Reinette van de Merwe, was redeployed from the regional group head office, with a specific mandate to stabilise the situation at the local bank.

This follows the resignations of the previous two citizen MDs in 2010 and 2012 respectively.  “The current MD of Barclays Bank of Botswana was appointed on a five-year contract effective September 2013 and therefore due to expire in 2018,” Matambo said.