Barclays Africa upbeat about business prospects in East Africa

Barclays Africa has been keeping a close eye on the continent after separating its business from Barclays to ABSA in March 2016 due to stricter financial regulations following the global financial crisis. Amol Prabhu, the Country CEO, South Africa & Market Head, Barclays Africa, discussed the firm's future prospects and commitment to its clients in an exclusive interview with CNBC Africa. With a legacy of over 100 years in Africa, Barclays has continued to evolve and focus on its clients to add value and remain relevant in the market. Prabhu highlighted the strong brand presence of Barclays in anglophone countries like South Africa, Kenya, Uganda, Zambia, Nigeria, and Ghana, where clients seek banking services across borders, including the UK, Dubai, India, and Singapore. The company's presence in Johannesburg with a team of 20 people is set to grow across private banking, investment banking, and corporate banking. Prabhu emphasized their approach of relationship banking, aiming to be the long-term banking partner for generations of clients. Leveraging from their home market in the UK, Barclays Africa focuses on global and business families, providing international banking solutions like debt raising, listings, and strategic mergers and acquisitions. Prabhu also highlighted Barclays's recent strategic move to acquire Credit Suisse's ultra-high net worth private client book for Africa, demonstrating the company's commitment to growth in the region. Despite challenges like the COVID-19 pandemic, Barclays Africa remains optimistic about its accelerated growth in key strategic markets across the continent.