I just came in to say their new MD is HOT!

The digital currency Bitcoin has been around for nearly six years, but although the name is well known, the technology it sits on, ‘blockchain’, is less so. However, companies are starting to realise how this technology could fundamentally change the way they do business in future.

Bitcoin, heralded by many as the single biggest breakthrough since the arrival of the internet, has proved to be something of a moving target since its launch in 2009. However, it continues to be the focus of significant investment and innovation with the industry predicting that more than $1 billion in venture capital funding will have been ploughed in Bitcoin and its future by the end of 20151

Recent developments include BitPesa, a Nairobi-based start-up focusing on Bitcoin remittances, which raised over $1 million earlier this year and Earthport, which agreed a partnership with Ripple Labs, allowing real-time cross-border bank payments.

But, it is becoming increasingly clear that Bitcoin is part of an even bigger story: financial institutions, including Barclays, are now considering how the technology underpinning digital currencies – the blockchain – could in itself revolutionise finance.

While many of these potential applications are some way off, long development cycles in the industry mean that now is the time for companies to begin asking how this technology could benefit them.

Full PDF article: https://www.barclayscorp...nding_the_potential.pdf

How will Barclays take back the business from telecoms like Safaricom that are offering financial tech services?

Paul Nel, (head of open innovation for the) Barclays Africa: Barclays is already a market leader in fintech solutions. We believe our investment in technology development, which is being driven through partnerships will strengthen, widen and deepen our impact. Customers have choice – and we believe in being able to provide a comprehensive end-to-end solution for them. We will continue to improve and drive change alongside the needs of our customers.

HSBC is a UK bank if I am not mistaken. The pressure on KYC, etc will be hard to fulfill for banks which do significant business in UK/US. I doubt the Japanese banks are interested in Africa with enough going on in Asia and Middle East. That leaves the Chinese and Indian banks...

The South African market is tough and there are huge potential defaults on the way from the retail customers. Credit is easier to obtain in SA and many take out crazy loans. The Kenyan subsidiary, if separated from ABSA, is a great catch at the right price. It still has a name [which will have to be changed] and decent client base.

OK, I am mistaken. You are right. Happy?

Please don't read anything after this this coz it will make you unhappy.

https://en.wikipedia.org/wiki/HSBC

HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is the world's fifth largest bank by total assets, with total assets of US$2.67 trillion. It was established in its present form in London in 1991 by the Hongkong and Shanghai Banking Corporation Limited to act as a new group holding company.
The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation.[8] The company was first formally incorporated in 1866. The company continues to see both the United Kingdom and Hong Kong as its "home markets".[9]

Vvs by any chance do you know who authors Wikipedia? Wikipedia is authored by anyone including me who did a biography of someone in SA.Dont trust any crap from Wikipedia .

So to correct the above HSBC was created to facilitate trade between Asia and Europe and the FIRST DOOR OF BANK was opened in HONG KONG .So get your facts right .

And to answer you about my source I went to their own website hsbc.com. here is the link


HSBC was born from one simple idea – a local bank serving international needs. In March 1865, HSBC opened its doors for business in Hong Kong, and today we serve more than 47 million customers in 71 countries and territories

They could have moved their headquarters to UK ,that I don't know because I didn't bother to read through their history on their website ,but one thing for sure is that it originated from Hong Kong .

More specifically watch the 1st video from 1.25 minutes into the clip

Vvs by any chance do you know who authors Wikipedia? Wikipedia is authored by anyone including me who did a biography of someone in SA.Dont trust any crap from Wikipedia .

So to correct the above HSBC was created to facilitate trade between Asia and Europe and the FIRST DOOR OF BANK was opened in HONG KONG .So get your facts right .

And to answer you about my source I went to their own website hsbc.com. here is the link


HSBC was born from one simple idea – a local bank serving international needs. In March 1865, HSBC opened its doors for business in Hong Kong, and today we serve more than 47 million customers in 71 countries and territories

They could have moved their headquarters to UK ,that I don't know because I didn't bother to read through their history on their website ,but one thing for sure is that it originated from Hong Kong .

More specifically watch the 1st video from 1.25 minutes into the clip

Vvs by any chance do you know who authors Wikipedia? Wikipedia is authored by anyone including me who did a biography of someone in SA.Dont trust any crap from Wikipedia .

So to correct the above HSBC was created to facilitate trade between Asia and Europe and the FIRST DOOR OF BANK was opened in HONG KONG .So get your facts right .

And to answer you about my source I went to their own website hsbc.com. here is the link


HSBC was born from one simple idea – a local bank serving international needs. In March 1865, HSBC opened its doors for business in Hong Kong, and today we serve more than 47 million customers in 71 countries and territories

They could have moved their headquarters to UK ,that I don't know because I didn't bother to read through their history on their website ,but one thing for sure is that it originated from Hong Kong .

More specifically watch the 1st video from 1.25 minutes into the clip

I see too...

Barclays has raised 603 million pounds ($876 million) by selling a 12.2 per cent stake in Barclays Africa Group, a crucial first step in a plan to curb risk and refocus on core markets in Britain and United States.

Barclays is selling down its 62 per cent stake in the South African lender as part of a plan to simplify the bank's structure, shore up its balance sheet and generate higher shareholder returns.

Following completion of the placing, the British lender will continue to hold 424.7 million ordinary shares or a 50.1 per cent holding in Barclays Africa, worth around $4.4 billion based on the placing price.

The sale, priced at a discount of 6.5 per cent, was oversubscribed multiple times and attracted "very high quality demand" from domestic and international investors, a source familiar with the matter said.

Barclays did not give any details of the investors who took part in the placing. South Africa's state pension fund Public Investment Corporation (PIC) said on Wednesday it planned to acquire up to 10.3 million shares.

PIC, Africa's largest fund manager with more than $122 billion of South African government employee pension assets under its custody, was already the second-biggest shareholder in Barclays Africa with a holding of about 6 per cent.

Capital lift

Thursday's share placing is expected to result in a proforma increase of about 10 basis points to Barclays' common equity tier 1 ratio, a key measure of the bank's financial strength.

Gary Greenwood, an analyst at Shore Capital, praised the "initial step" in a plan to reduce exposure to the African arm, one of the bank's heaviest burdens in terms of risk budget, but it would only "be able to reap the capital benefit of this process" when ownership dropped below 20 per cent.

Barclays has struggled to reassure shareholders it will not need a fresh cash call to prop up its 11.3 per cent tier 1 ratio, which lags behind its major UK banking sector peers, after cutting its dividend to fund its restructuring efforts.

Shares in the bank, which have fallen 25 per cent in the year to date, were trading up 0.6 per cent at 163.4 pence at 0820 GMT. Shares in Barclays Africa dropped 1.5 per cent.