Barclays Bank Of Uganda Limited says it is neither shutting down nor quitting Africa as media reports speculated.
Barbara Kanyana Kamugisha, the Head of Marketing, says “it is factually incorrect that Barclays Bank of Uganda Limited is shutting down operations in Uganda”.
“We would like to add for further context that Barclays Africa Group Limited is the holding company for Barclays Bank of Uganda Limited.”
Kamugisha said Barclays Africa Group Limited is a separate listed company on the Johannesburg Stock Exchange and is regulated by the Reserve Bank of South Africa.
“The speculations concerns shareholding of Barclays Africa Group Limited and will not impact the operations of Barclays Bank Of Uganda limited.”
“Customer deposits are safe and will not be impacted in any way.”
The bank says its strategy in Uganda has not changed and operations will continue as normal.
The Group continues to see the Barclays Uganda franchise as a sound and solid business unit that will operate as a going concern.
Barclays Bank of Uganda Limited has been in Uganda for 89 years.
“We have a clear strategy in Uganda and we remain focused on executing that strategy to the benefit of our customers and other stakeholders.”
“Barclays Bank Of Uganda Limited is a profitable business that is well capitalised, highly liquid and customers should not be worried about the safety of their deposits.”
The bank also says its in a strong financial position and will continue to ensure that “we are able to deliver services and value to all our stakeholders and are particularly proud to have received numerous awards over the years in recognition of our service”.