Barclays in Botswana

History

Barclays Bank PLC commenced operations in Botswana 60 years ago when an agency was opened in Lobatse in 1950. By independence in 1966, four full branches had been opened and a network of agencies, serving major villages was being developed. In 1975, the Bank was incorporated locally.

Until May 1986, it operated as an autonomous, wholly- owned subsidiary of Barclays Bank PLC and was managed from its head office in Gaborone. In 1986, ordinary shares in the Bank were issued to employees of the Bank, Botswana citizens and locally incorporated corporate bodies. The effect of this issue was a reduction in the Barclays Bank PLC shareholding to89.8%.

Following a further rights issue to Botswana citizens in1987, the Barclays Bank PLC shareholding was reduced to 80.4%. A subsequent rights issue in 1991 diluted this

shareholding to 74.86%. Today, Barclays PLC remains the majority shareholder in BBB with a 69.9% shareholding.

Current Position

Barclays is the leading bank in Botswana, with a market capitalisation of over P6 billion, and offers retail banking, commercial banking and credit cards.

Employing over 1,400 people, Barclays Bank of Botswana services customers across the country through a network of 101 ATMs and 52 outlets; the most extensive of bank networks in Botswana. With a presence in areas where no other bank operates, Barclays has shown commitment to provide banking services to the previously unbanked, further developing the financial services landscape in the country.