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:
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?
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.
|Create a new culture||
|Differentiate by becoming people-centric||
|Re-orientate around the customer||
|Regain our leadership in South Africa Retail||
|Become the business bank of choice||
|Substantially grow market share and returns in Corporate and Investment Bank||
|Craft a winning Wealth, Investment Management and Insurance model||
|Be a leading player in core markets beyond South Africa||
|Create a superior consumer finance franchise||
|Build a leading global payments hub||
|Launch a winning transaction banking platform||
Three enabling capabilities
|Separate quickly and effectively||
|Build world-leading Group-wide capabilities||
|Establish a winning brand||
|Promoting intergenerational sustainability||
|Driving thought leadership||
|Targeted acquisitions and disposals in
|Expand into target markets||
The execution plan
Our execution approach has been designed to manage the inherent risks, and is structured into three mutual reinforcing phases.
- announce brand direction which is a critical inflection point;
- complete the Separation;
- build and scale capabilities; and
- renew our organisation and transform our culture.
- 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.
- embody an entrepreneurial culture;
- complete digital transformation;
- achieve leadership positions in our core businesses while expanding into new markets; and
- deliver double-digit growth.