Barclays Africa has reaffirmed its commitment to economic and socio-economic growth on the continent through its Shared Growth Strategy, with a number of pledges, including US$93 million, to improve skills development and access to quality education.
Barclays Africa Group Chief Executive, Ms Maria Ramos
At a press briefing in Johannesburg, the Barclays Africa Group Chief Executive, Ms Maria Ramos, said, “Shared Growth for us means having a positive impact on society and delivering shareholder value, the two are not mutually exclusive. We are applying our substantial resources to provide innovative commercial products, services and partnerships to build a more equitable and prosperous Africa for the next generation.”
She said when customers and clients performed well, the bank would be impacted positively just as when the communities in which the bank worked also thrived.
“And when society prospers, we all do. But only if we work together – private public partnerships are the key to tackling some of society’s biggest challenges – to deliver on growth opportunities,” she stated, and added that it was the belief of Barclays Africa that “a business can only be successful if it connects positively and creates value with the society in which it operates ”.
Shared Growth is based on creating shared value. It emphasises the connections between societal and economic progress, showing that they are mutually dependent, and when unleashed can stimulate substantial growth. Companies can, and, indeed, should develop deep links between their business strategies and citizenship.
Shared Growth Advisory Council
Barclays Africa has appointed a Shared Growth Advisory Council as part of the strategy. “We realise that making a meaningful contribution to economies and society is about shared value and shared opinion. We are proud to partner with industry leaders, civil society and government who will play a role in ensuring our contributions are meaningful and that our impact is sustainable,” the Managing Director of Barclays Bank of Ghana, Mrs Patience Akyianu, said.
She added that the “success of our business is more than just the profits we make. It is the sum of the impact of our operations on society and how we are empowering businesses, communities and people to grow and prosper.”
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