Creating a bold new corporate strategy…

To reset our future and shape our destiny as a proudly African group, we embarked on a comprehensive review process, creating two parallel and interlocked pathways:

A strategy development journey and …
The first was to answer
three fundamental questions

Why are we here, and what role do we want to play in society?

What is the strategy that will allow us to achieve our vision?

How can we build a strong, vital organisation to support and empower our strategy?

… a cultural, organisational journey.
The second focused on the
culture of the Group

How do our employees feel, and what are their perceptions of the Group?

How would we, as a collective, define success?

How do we create a new culture
and what does this look like?

Both of these pathways adopted a methodology of co-creation, to seek deep insights and to seed ownership. The process involved deriving views from customers, clients, key stakeholders and our employees as well as a 360 degree scan of the environment including emerging trends and innovation. This process was governed by four principles which embody the essence of the new corporate strategy.

Through the process, we made seven explicit choices that would define the Group’s aspiration and the strategy going forward. These choices are a pivotal paradigm shift for the organisation and are vital to catalyse growth.

The process culminated into the design of a new corporate strategy that is transformative, enables us to reset our culture and defines a blueprint for how Barclays Africa will become a formidable African organisation.

Our new strategy comprises of:

  • a new guiding purpose;
  • three strategic priorities that outline the business’s objectives – defining what is required to succeed;
  • three enablers which will change the way we operate – defining exactly how we will achieve these objectives; and
  • one measure of success – to grow our business and double our share of revenue.

Our purpose statement Bring your possibility to life was co-created and symbolises the Group’s intention to be an entrepreneurial, innovative organisation and is an embodiment of growth for Africa, our employees and the business. This purpose will become the driving force that defines our brand, continually inspires the desired culture and connects customers to opportunities that makes what is possible real.

The strategic focus areas were crafted based on an understanding of the growth dynamics within Africa across markets, customers and products. Delivering on these priorities will require a shift in mindset as well as organisational practices. To achieve this, we will accelerate the implementation of the three enablers to unlock the full potential of strategy. This bold new growth strategy reinforces the holistic transformation of the business to become both people and customer centric.

Our strategy is underpinned by the delivery of key promises to employees, to customers, to societies and to shareholders. Delivering on the strategy and realising the promises will culminate in the Group realising our goal of growth while becoming an African financial services group that is globally respected and that Africa can be proud of.

Three priorities

Create a thriving organisation
Create a new culture
  • An inclusive and diverse culture that is entrepreneurial, innovative, with a deep sense of ownership and a shared purpose and identity
Differentiate by becoming people-centric
  • The best environment and opportunities for top talent to thrive
Re-orientate around the customer
  • Outward focused, customer obsessed and digital
Empower ownership
  • Distributed leadership at all levels of the organisation
Restore leadership in core businesses
Regain our leadership in South Africa Retail
  • Superior customer insights driven by advanced analytics
  • Digitally transformed customer journeys with an enhanced focus on affluent and core-middle market customers
Become the business bank of choice
  • Sector-specific product suites
  • Opportunity identification and execution driven by advanced analytics
Substantially grow market share and returns in Corporate and Investment Bank
  • Value-based approach to make management decisions with real-time planning and pricing tools
  • New coverage model aligning resources to customer profitability and potential, ensuring superior service
Craft a winning Wealth, Investment Management and Insurance model
  • Customer-focused business model with seamlessly integrated infrastructure
  • Cost-efficient structure leveraging new capabilities
Be a leading player in core markets beyond South Africa
  • Sector-led propositions and revitalised service offerings
  • Leading digitally-enabled core middle market and affluent banking franchise
Build pioneering new propositions
Create a superior consumer finance franchise
  • Fully digital
  • Top-class mobile onboarding
  • Innovative distribution model to cater to new customer segments
  • World-class risk management
Build a leading global payments hub
  • Simple and intuitive customer experience
  • Seamless transactions on a single digital platform
  • Link to small businesses across the continent
  • Affordable cross-border remittances
Launch a winning transaction banking platform
  • Fully integrated corporate and small business value propositions
  • Enhanced cash management and trade finance products
  • Transactional banking pricing excellence
  • Digitised and automated end-to-end processes

Three enabling capabilities

Build a scalable, digitally-led business
Separate quickly and effectively
  • Complete the Separation while maintaining cost management, talent retention and competitiveness
Build world-leading Group-wide capabilities
  • Infuse digital and design thinking across our businesses
  • Integrate big data and advanced analytics into the core of our business
  • Create next-generation risk management capabilities
  • Build mergers and acquisitions, and partnership capabilities to drive opportunities
Establish a winning brand
  • Launch a distinctive brand, reflective of our Purpose
Play a shaping role in society
Earning trust
  • Fairness: providing just outcomes for our stakeholders
  • Reliability: consistently delivering on our promises
Shaping society
  • Social: significantly contributing to the societies in which we operate
  • Economic: contributing towards the continent’s growth and development
Promoting intergenerational sustainability
  • Environmentally conscious: being accountable for our impact on the environment
  • Viable communities: evolving as our communities’ needs change
Driving thought leadership
  • Leading insights: being thought leaders in the industry
  • Relevant innovation: developing innovative solutions to societal challenges
Pursue growth opportunities
Targeted acquisitions and disposals in
existing markets
  • Acquisitions to expand and augment existing capabilities
  • Purchases to accelerate growth
  • Disposals of our non-core portfolio
Expand into target markets
  • Launch representative offices to establish presence in key African markets
  • Make strategic acquisitions to build a dominant market position
Strategic partnerships
  • Explore new markets and grow our customer base
  • Supplement and extend our capabilities, including digital

The execution plan

Our execution approach has been designed to manage the inherent risks, and is structured into three mutual reinforcing phases.

Deliver on our promises
Create a progressive, future oriented organisation
Separate and adapt for the future

We will:

  • announce brand direction which is a critical inflection point;
  • complete the Separation;
  • build and scale capabilities; and
  • renew our organisation and transform our culture.

We will:

  • launch our new brand while simultaneously delivering our new client propositions with tangible changes in customer experience;
  • gain efficiencies through digital transformation; and
  • build momentum and accelerate delivery.

We will:

  • embody an entrepreneurial culture;
  • complete digital transformation;
  • achieve leadership positions in our core businesses while expanding into new markets; and
  • deliver double-digit growth.