In the past few weeks, you may have seen speculative reports in local and international media about Barclays considering exiting Africa. This has understandably raised a lot of concerns among our stakeholders. (be it customers, colleagues, shareholders or the regulator).

In light of this I would like to assure all our stakeholders of the following 3 things

  1. The first and most important is that Barclays Bank of Kenya is not shutting down. I reiterate ..Barclays Bank of Kenya is not shutting down and there are no plans at Local, Regional or Group level to shut down our operations here. The on-going speculation is related to the shareholding of Barclays Africa Group Ltd, the holding company of Barclays Bank of Kenya and does not in any way impact the day to day running of this institution.

    When Barclays Africa Group was formed in 2013, it became one of the biggest banking groups on the continent. Barclays PLC owns 62.3% of Barclays Africa Group Limited which in turn holds a controlling stake in Barclays Bank of Kenya and 11 other operations in Africa. Consequently any decisions concerning the operations of Barclays Kenya can only be made by Barclays Africa Group Limited in consultation with other investors who are shareholders in this business.

  2. Secondly Your accounts are and continue to be safe and are not impacted in any way by these speculations. I assure you that your money is safe with us and you should not be concerned about the operation of your account. We remain, as always, at your service.

  3. Thirdly - We will continue to grow our Kenyan business. Only this week, our commitment to this market was evidenced by the launch of the first to market Mobile Point of Sale (mPOS) payment solution. This is a solution that enables customers to pay for products and services using their debit or credit cards on the go. In the next few days, we will roll out our agency banking proposition to give our customers easier access to our services. We have a clear strategy for our Kenya business and there are no plans at all to shut it down or cease operations.

Barclays Bank of Kenya is a profitable institution currently in its 100th year of operation in this country. As an institution, Barclays Bank of Kenya has in the past century evolved through different transitions and remained a strong business of high repute. We started off as the National Bank of South Africa in 1916 before becoming the Barclays Bank DCO (Dominion, Colonial and Overseas) and later Barclays Bank of Kenya. This is part of a normal business evolution.

Barclays Bank of Kenya has a strong capital base and liquidity position that ensures we are able to deliver value to all our stakeholders. Our institution is founded on and governed by clear structures and sound business practises that have ensured our successful existence in this country for the last century.

I would like to assure you that Barclays Kenya as well Barclays Africa Group Limited remain committed to this market and focused on delivering our growth strategy which is anchored on offering excellent service to our customers and value for our shareholders.