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Barclays Bank shutting Africa operations
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sumuni
#1 Posted : Saturday, February 27, 2016 4:02:12 PM
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Joined: 6/24/2007
Posts: 111
Location: Afrique
Barclays Bank shutting down in Africa
Seems there is too much Competition from local Banks. .
It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
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EngineerLMG
#2 Posted : Saturday, February 27, 2016 7:16:23 PM
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Joined: 3/22/2014
Posts: 50
I'm apprehensive about that source.
Jus' sayin.
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sumuni
#3 Posted : Saturday, February 27, 2016 8:11:43 PM
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Joined: 6/24/2007
Posts: 111
Location: Afrique
The Guardian
Financial times
Well, seems the die has been cast. Official announcement to be made on Tuesday in London.
It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
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ayushnehra
#4 Posted : Saturday, February 27, 2016 8:58:56 PM
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Joined: 1/4/2015
Posts: 153
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.


Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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sparkly
#5 Posted : Sunday, February 28, 2016 8:06:34 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




@Sumuni may be onto to something. If Barclays sell its 62% shareholding, there is a close to 0% chance that the operations will continue as Barclays.
Life is short. Live passionately.
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enyands
#6 Posted : Sunday, February 28, 2016 10:51:51 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
sparkly wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




@Sumuni may be onto to something. If Barclays sell its 62% shareholding, there is a close to 0% chance that the operations will continue as Barclays.



Unaitas, Mwalimu and others who want to convert into a bank this is a golden apportunity for them to buy stake in this and be fully fledged bank


Please fill up at shell, kk shareholders pay cash.
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sumuni
#7 Posted : Sunday, February 28, 2016 2:31:30 PM
Rank: Member


Joined: 6/24/2007
Posts: 111
Location: Afrique
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.



You points are the ones that are misleading. Points 3 and 6 are contradictory. I highly doubt once they sell their shares the new entity will operate as Barclays Bank.
Anyway let us wait and see. We can extract this thread from the archives and see who was right.
It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
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sitaki.kujulikana
#8 Posted : Sunday, February 28, 2016 2:44:14 PM
Rank: Veteran


Joined: 8/25/2012
Posts: 1,826
sumuni wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.



You points are the ones that are misleading. Points 3 and 6 are contradictory. I highly doubt once they sell their shares the new entity will operate as Barclays Bank.
Anyway let us wait and see. We can extract this thread from the archives and see who was right.

the beauty of the internet and remembering things
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Mpenzi
#9 Posted : Sunday, February 28, 2016 5:00:50 PM
Rank: Veteran


Joined: 10/17/2008
Posts: 1,234
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




Once Barclays sells its stake in Barclays Africa, the Barclays Africa and Barclays Kenya will have to change their names. It's as simple as that.
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ayushnehra
#10 Posted : Sunday, February 28, 2016 5:59:57 PM
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Joined: 1/4/2015
Posts: 153
There is big difference between SHUTTING DOWN (closing business) and maybe CHANGING OF NAMES..!!

It's like saying Ukwala Supermarkets are shutting..No they are still open and will just be rebranded with a different name..
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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enyands
#11 Posted : Sunday, February 28, 2016 6:28:59 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
ayushnehra wrote:
There is big difference between SHUTTING DOWN (closing business) and maybe CHANGING OF NAMES..!!

It's like saying Ukwala Supermarkets are shutting..No they are still open and will just be rebranded with a different name..


Ayushnehra why waste your time man. Some people will never get it. By selling off their 65% they are selling their major control stake in Barclays kenya.someone else want that piece.
Use example kenya govt, if they chose to sell their major stake in KQ will it means KQ will die? No , someone else will be like the majority owner.and all all operations Will Continue as before l.Just that the government won't taste dividends and other privileges.

If this guy doesn't get it then leave him man.
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sparkly
#12 Posted : Sunday, February 28, 2016 8:01:50 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
ayushnehra wrote:
There is big difference between SHUTTING DOWN (closing business) and maybe CHANGING OF NAMES..!!

It's like saying Ukwala Supermarkets are shutting..No they are still open and will just be rebranded with a different name..


If Barclays sell their business in Africa, they no longer have business in Africa. The English man says you cannot eat your cake and still have it.

There is a big difference between selling your 1,000 minority portfolio investment in Barclays and Barclays selling its 62% owned subsidiary.
Life is short. Live passionately.
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ayushnehra
#13 Posted : Monday, February 29, 2016 6:59:36 PM
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Joined: 1/4/2015
Posts: 153
@enyands.. my bad..you are right..Some people will never get it. The simplest of things..!
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
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sumuni
#14 Posted : Monday, February 29, 2016 7:04:49 PM
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Joined: 6/24/2007
Posts: 111
Location: Afrique
enyands wrote:
ayushnehra wrote:
There is big difference between SHUTTING DOWN (closing business) and maybe CHANGING OF NAMES..!!

It's like saying Ukwala Supermarkets are shutting..No they are still open and will just be rebranded with a different name..


Ayushnehra why waste your time man. Some people will never get it. By selling off their 65% they are selling their major control stake in Barclays kenya.someone else want that piece.
Use example kenya govt, if they chose to sell their major stake in KQ will it means KQ will die? No , someone else will be like the majority owner.and all all operations Will Continue as before l.Just that the government won't taste dividends and other privileges.

If this guy doesn't get it then leave him man.

The analogies you use are so way off, they add no value to your argument. Who talked of a company dying? By Barclays PLC disinvesting from their African business, it essentially means they (Barclays) cease operations in Africa. Whether the new investor is Unaitas, KWFT, or whomever wishes to buy the majority stake, is another matter altogether.
However I agree with you on one point-Some people will never get it. Ni hayo tu.
It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
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Realtreaty
#15 Posted : Monday, February 29, 2016 9:23:13 PM
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Joined: 8/16/2011
Posts: 2,297
Kenya si Africa, Kenya is near Korea, its actual brother with a "K" Letter.Sad
Is Awori not telling us the truth? Who is buying Barclays? It is still productive in Kenya
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sparkly
#16 Posted : Monday, February 29, 2016 9:23:51 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
ayushnehra wrote:
@enyands.. my bad..you are right..Some people will never get it. The simplest of things..!


I guess I will never get it.

Let's wait for the name change just like Stocks Kenya changed to Wazua.
Life is short. Live passionately.
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enyands
#17 Posted : Monday, February 29, 2016 11:22:45 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
sumuni wrote:
enyands wrote:
ayushnehra wrote:
There is big difference between SHUTTING DOWN (closing business) and maybe CHANGING OF NAMES..!!

It's like saying Ukwala Supermarkets are shutting..No they are still open and will just be rebranded with a different name..


Ayushnehra why waste your time man. Some people will never get it. By selling off their 65% they are selling their major control stake in Barclays kenya.someone else want that piece.
Use example kenya govt, if they chose to sell their major stake in KQ will it means KQ will die? No , someone else will be like the majority owner.and all all operations Will Continue as before l.Just that the government won't taste dividends and other privileges.

If this guy doesn't get it then leave him man.

The analogies you use are so way off, they add no value to your argument. Who talked of a company dying? By Barclays PLC disinvesting from their African business, it essentially means they (Barclays) cease operations in Africa. Whether the new investor is Unaitas, KWFT, or whomever wishes to buy the majority stake, is another matter altogether.
However I agree with you on one point-Some people will never get it. Ni hayo tu.


Asante at least we agree on something. Let focus on what we agree than what we disagree. It's democracy and is free. Laughing out loudly
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watesh
#18 Posted : Tuesday, March 01, 2016 8:59:19 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 969
Location: Kenya
Mpenzi wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




Once Barclays sells its stake in Barclays Africa, the Barclays Africa and Barclays Kenya will have to change their names. It's as simple as that.

Not necessarily, if they agree with Barclays to keep the branding they can continue as normal just like Equity Group did with Procredit Congo, they didnt rebrand.
Braclays Kenya rebranding can choke the business short term since most clients love the prestige that comes with the name Barclays.
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Jitahidi
#19 Posted : Tuesday, March 01, 2016 9:07:45 AM
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Joined: 5/8/2008
Posts: 288
watesh wrote:
Mpenzi wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




Once Barclays sells its stake in Barclays Africa, the Barclays Africa and Barclays Kenya will have to change their names. It's as simple as that.

Not necessarily, if they agree with Barclays to keep the branding they can continue as normal just like Equity Group did with Procredit Congo, they didnt rebrand.
Braclays Kenya rebranding can choke the business short term since most clients love the prestige that comes with the name Barclays.

I doubt Barclays will allow use of their name (Barclays)by other parties as one of the reasons being highlighted is reputation risks in Africa (source: Smart company on DN today). My bet is a change of name is inevitable like Ken cell - Airtel - Bharti Airtel
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Msa Liti
#20 Posted : Tuesday, March 01, 2016 9:15:59 AM
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Joined: 1/6/2009
Posts: 98
I think they will adopt the ABSA name, the minority shareholder in Barclays Africa.
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