Botswana: Barclays Botswana Transition Smooth

Gaborone — Absa Group limited subsidiary bank, Barclays Botswana's managing director, Ms Keabetswe Pheko-Moshagane says the bank has delivered 69 per cent of projects in preparation for the transition to the Absa Group.

"The transformation shift of the Barclays Africa Group to Absa Group is envisioned to present the group as a standalone African Group, whose roots in Botswana will continue with the same integrity it had while servicing the country over the years, said Ms Pheko-Moshagane.

She revealed that core banking platforms had been moved from UK to South Africa, noting that the move would not affect the servicing of products and services that customers currently use. She further noted that there exists a delicate balance in repositioning the brand, but that there were rebalanced strategies to ensure that the dividend policy does not change.

Ms Pheko-Moshagane said they had done customer valuation to address customer needs and had implemented strategies to address challenges in customer care, some of which included bringing back the customer care centre from South Africa, which is currently being embedded to accommodate customer communication.

"Share price for Barclays Botswana has continued to go up representing a positive outlook and this will further reposition the bank in the right trajectory," she said. She further revealed that while the bank would incur separation costs, these would normalise by 2021.

Source : BOPA

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