Action steps for African Business Schools
2011-05-24 13:56:36 UTC
Case Study: Barclays Bank in Africa: moving on from colonial roots
Title
Barclays Bank in Africa: moving on from colonial roots
Author
Luiz, J; Mitchell, C
Pages
17
Product Type
Reference #
206-019-1
Teaching Note
not available
Institute
Setting
Africa
Year
2006
Keywords
Strategy; Developing world; Business environment; Banking; Business in Africa; Managing turnarounds
Summary/
Abstract
Abstract
A cathartic moment had been reached for the Africa operation of Barclays PLC when Barclays Africa Chief Executive Officer, Dominic Bruynseels, presented two options to his team in January 2003. The bank?s performance on the continent had been declining since 1986. It could either sell off the Africa operation within the next 12 months, or, if his team could demonstrate an ability to manage risk on the continent and deliver returns for the group in the following year, it could make a major acquisition in Africa. From that point on, the turnaround gained momentum, and in May 2005 Barclays bought a controlling share in Absa Bank South Africa, the country?s largest retail bank. Now, in June 2005, Bruynseels wondered how the bank would be able to sustain its recent good performance on the continent.
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