Barclays has sold 103,592,491 ordinary shares in the capital of Barclays Africa (representing 12.2% of Barclays Africa’s issued share capital) at a price of ZAR 126 per share through an accelerated bookbuild placing (the “Placing”), raising aggregate gross sale proceeds of approximately ZAR 13,053 million (£603 million)1 . Upon settlement, the Placing is expected to result in a pro forma increase of approximately 10 basis points on the 31 March 2016 CET1 ratio.
Barclays Bank PLC, acting through its investment bank (“Barclays Investment Bank”) is acting as sole global coordinator and joint bookrunner, together with Citigroup Global Markets Limited, J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) and UBS Limited (the “Managers”) who, together with Barclays Investment Bank, are acting as joint bookrunners on the Placing (together, the “Joint Bookrunners”).
Following completion of the Placing, Barclays will hold 424.7 million ordinary shares in the capital of Barclays Africa, representing approximately 50.1% of Barclays Africa’s issued share capital.
All of the remaining ordinary shares in Barclays Africa held by Barclays PLC or its subsidiaries (excluding Barclays Africa and its subsidiaries) not sold in the Placing will be subject to a 90 day lock-up restriction from settlement. During this period, the lock-up restriction may be waived with the consent of the Managers (such consent not to be unreasonably withheld or delayed).
The proceeds of the Placing are payable in cash on usual settlement terms, and settlement of the Placing is expected to occur on a T+5 basis on 12 May 2016, subject to the satisfaction or waiver of certain customary conditions.
1 Exchange Rate ZARGBP 0.0462 as of 4 May 2016 (source: Bloomberg)”
Pursuant to the above and in accordance with section 122 (3)(b) of the Companies Act and section 3.83(b) of the Listings Requirements of the JSE Limited, Barclays Africa shareholders are advised that Barclays Africa has received formal notification from Barclays PLC that its total interest in Barclays Africa has been reduced from 62.3% to 50.1%.
As required in terms of Section 122 of the Companies Act, the required notice will be filed with the Takeover Regulation Panel.
Barclays Bank of Tanzania has today announced the appointment of Abdi Mohamed as the new Managing Director, effective April 2016.
Mr. Mohamed will be taking over from Kihara Maina, who after serving in the role since 2009 will now be pursuing other opportunities outside the Barclays Africa Group.
Until now, Mr. Mohamed has been Chief Operating Officer at Barclays Bank Kenya. He has a long standing career history with Barclays starting in1994 where he has held progressively senior roles in Kenya, Zambia, and the United Kingdom.
Barclays Africa Regional Management Chief Executive Mizinga Melu said: “Abdi brings to the role wide-ranging experience across markets and product areas including retail, corporate banking and operations. His career progression within the Barclays Group is a true success story and is testament to our belief in advancing talented employees.”
Barclays Bank Tanzania Chairman Dr. Ramadhani K. Dau commented: “We welcome Abdi to Barclays Tanzania and are confident that his breadth of financial services expertise will help us in executing our growth strategy in the market. We take this opportunity to thank Kihara who has played a critical role in leading the business in Tanzania during the last six years which has seen us register a number of milestones in the market, including the roll-out of leading digital platforms such as Strategic Hello Money (SHM), BIR, BARX and pioneering loan products.”
Commenting on his appointment, Mr. Mohamed said: “I am excited by the opportunity to lead the Barclays Tanzania team. We see continuedgrowth potential in the Tanzanian economy and my focus will be to ensure that Barclays is an active participant in enabling and supporting this growth. We will work with all the relevant stakeholders to position BBT as the Go To bank for our customers and an exciting place to work for colleagues.”
Barclays Bank of Kenya Managing Director Jeremy Awori said Abdi’scareer progression within the Barclays Group is a true success story and testament to the bank’s belief in advancing the careers of talented colleagues.
“We are greatly honoured to have worked with him here in Kenya. Abdi espouses the true meaning of the values of Barclays and his diligence has seen him forge an admirable career. I congratulate him as he takes on his new role,” Mr Awori said.
Mr. Mohamed holds a Masters in Business Administration (MBA) – International from Edith Cowan University in Perth Australia.
Banking and finance apps are one of the most sought after pieces of innovation in Kenya aiming to serve millions of citizens who are banked with a possibility of luring the unbanked to diverse product offerings.
While innovation and creativity in the Kenyan banking industry has been limited to SMS banking for a while, accredited finance institutions are quickly targeting native mobile application users more on the Android platform than any other mobile operating system.
We have come up with a list of the available apps on various platforms prominent among them being the Google Play Store.
This banking apps at the least will ease your hassle and reduce the time you have to spend in queues in various banking halls.
Barclays Bank of Kenya
Along with its Internet Banking service, the Barclays Bank of Kenya is among the banks in Kenya to have a complimentary mobile application launched in June 2013 that serves both personal and business clients. The application is available on the android platform for versions above 2.2. So far between 5,000 to 10,000 clients are using the application.
You can download Barclays Bank of Kenya app from the Google Play Store here.
Like most banking applications in Kenya, the Ecobank mobile banking allows its banking clients to top up their mobile phones with airtime from major mobile operators such as Safaricom and Airtel. Internet and External fund transfers are on the go which cuts down on the effort to meet the bankers in person. Available on the android platform for versions above 2.2, the app has between 1,000 to 5,000 users.
Being among Kenya’s most profitable banks, Equity Bank has a mobile banking application dubbed Eazzy 247 that opens up an opportunity for its clients to access their account financials including statements as well as pay bills such as electricity, water, HELB, DSTV bills and others. The app is available on the Google play store with downloads between 10,000 – 50,000. You can download from the Google Play Store here.
The application is also complimented by unofficial apps such as the Equity Direct Mobile which is a money remittance service serving the Kenya community and a less popular Equity Virtual Banking which features ATM locations among other features.
Family Bank (Pesa Pap)
Family Bank is a financial organization that is built around the idea of family and is popular with social groups and communities. Their laid back mobile application developed by Craft Silicon is efficient for servicing utility bills from various service providers in Kenya. The application is available on the android platform for versions above 1.6. You can download from the Google Play Store here.
NIC Bank Kenya
The NIC Bank is not left out when it comes to serving up its clients with the latest innovation. Though basic, the mobile banking application offers everything a banking client is looking for including online merchants and mobile money options. The application is available on the android platform for versions above 1.6.
Though not hosted on the play or app store, KCB’s mobile application can be download on their website offering the ability for users to send money to their mobile money accounts such as M-Pesa, check their balance as well as transfer funds. The application compliments the USSD service accessible via *544# on Safaricom Lines.
The bank has an attractive mobile banking app known as mfukoni which translate in English from Swahili as ‘In the Pocket’. Othe than, the application has an attractive interface and goes beyond that to provide service beyond the usual mobile application. Mfukoni also provides access to services such as insurance and unit trusts that are a product offering by the modern financial institution. You can download from the Google Play Store here.
The have a separate application for tablet devices available for versions 3.1 and up.
Banking will remain a core primary service but sure, banking as we know it will continue to evolve decade after decade.
Leave a comment and don’t mind pointing us to any apps that might have been missed.