Barclays Africa announced today on Twitter that it is not ending its operations in Africa and no jobs will be lost — a response to viral reports that the company plans to pull out of Africa, VenturesAfrica reported.
The company took advantage of the recent publicity to do a little advertising of its own. It said on its Twitter page it has more than 42,000 employees on the continent, with 1,253 branches and 12 million customers in 12 African countries
Barclays’ new CEO, Jes Staley, will announce on Tuesday the British bank’s plans for its African business, the U.K.’s Financial Times reported on Friday.
“After a review of the African business led by Jes Staley, the bank’s board decided last week that, in principle, it made strategic sense to get out of the continent, according to people familiar with the matter,” read the article on Financial Times.
On Saturday, Barclays Africa responded to customers’ concerns about the future of Absa and whether their cash deposits were safe, BusinessDayLive reported. The reports are “still speculation at the moment” as there had been no announcement by Barclays, the company said. “Barclays Africa is the holding company for Absa and we are strong and independently funded,” the JSE-listed company said on Twitter Sunday.
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