Connect with us

News

Absa celebrates separation programme from Barclays

Absa Group, one of Africa’s largest financial services providers, is celebrating substantial completion of its separation programme from Barclays PLC, three years after the start.

The separation, one of the largest and most complex corporate programmes of its kind, followed Barclays PLC’s 2016 decision to reduce its shareholding in the African group to a minority position.

Barclays became the majority shareholder in Absa in 2005 and the two groups subsequently integrated systems, processes and policies over time.

“We are closing an important chapter in the more-than-100-year history of the Absa Group as we wind up the last few elements of separation,” Absa Group Chief Executive Daniel Mminele said in a statement issued in Accra.

Advertisement

“We emerge from this chapter as a proudly independent African bank, strengthened and enriched by our experience as part of the UK group. We have a great foundation to build on and full control to make the decisions that are in the best interest of our customers and other stakeholders across all the African markets we operate in,” he said.

Barclays PLC contributed R12.6 billion (approximately $1 billion at the time) in 2017 towards the three-year separation programme, which comprised mainly Information Technology  and brand projects, and which commenced on 6 June 2017.

The programme involved, among others, the largest single data and system migration in Africa as customers in nine countries were switched to a new online banking platform, improving customer experience through greater stability and upgraded user interfaces in several countries.

More than 1,000 branches, 10,000 Automate Teller Machines, close to 16,000 email addresses, several million customer cards, as well as thousands of uniforms, signage, forms, buildings and stationery were rebranded. At its peak, nearly 1,300 employees and contractors were dedicated to the separation programme.

Advertisement

 “The initiatives undertaken have fundamentally improved Absa’s resilience, systems and capabilities, benefitting both employees and customers alike,” Mr Mminele said.

“I have been extremely impressed with how diligently and disciplined the colleagues have carried out this mammoth of a project, unparalleled on the continent in terms of size and complexity. We take great pride in having substantially completed the separation from Barclays PLC within budget and inside agreed timelines,” he said.

Absa Engineering Services Chief Executive, Paul O’Flaherty who leads the separation programme said, “The programme carried material risks, including potential large-scale banking system failures and customer attrition.”

 “We worked closely with stakeholders including regulators across our presence markets to mitigate risk. We are proud to say that separation has been substantially completed in a safe and successful way,” he said.

Advertisement

BY TIMES REPORTER

Continue Reading
Advertisement

News

 Intake of ‘Gobe’ can prevent heart diseases —Nutritionists

Gari and beans is good for the heart
Gari and beans is good for the heart

Nutritionists have advised Ghanaians to eat more beans-based meals, including the popular local dish, gari and beans, also known as ‘Gobe’ to prevent heart diseases. They said incidenc­es of obesity and cancer could be minimised with the regular intake of beans meals.

At a programme in Accra to mark the World Pulses ( Beans) Day on Monday, Mr Wise Chukudi Letsa, Nu­tritionist and Dietician, who spoke on the topic: ‘Beans: The Super Food for Healthy Living and Healthy Farmlands,’ admonished Ghanaians to include beans in their diets.

Mr Letsa said beans was rich in protein, fibre, vitamins, miner­als, irons and other nutrients and contained just a little fat. Mr Letsa, a Nutritionist with Lets Consult, stated that the presence of those nutrients in beans explained why its intake could prevent heart diseases and other ailments, hence the need to consume it regularly.

The event, dubbed: ‘Meatless Monday’ was organised by the Com­munications Initiative for Change (CIC), a Ghanaian non-profit organ­isation.

Advertisement

The ‘Meatless Monday’ is an initiative aimed at encouraging Ghanaians to reduce their intake of meat by taking in more beans-based meals on every Monday of a week.

It was launched after the United Nations in 2019, set aside Febru­ary 10 to celebrate and encourage the consumption of pulses (beans) worldwide. This year’s celebration was hinged on the theme: ‘Bringing Diversity to Agrifood Systems.’

Mr Peter Agbovi, National Secre­tary, Chefs Association of Ghana, said a variety of meals could be prepared with beans, which include Waakye (rice and beans), Kose (beans paste made into cakes), Ayikple, Aboboi, Tuo Zaafi, Akyeke, and kakro.

He encouraged Ghanaians to con­sume more of those foods to stay healthy.

Advertisement

Mr Emmanuel Fiagbey, the Ex­ecutive Director, CIC, indicated that even if people could not eat beans-based meals regularly, efforts should be made to consume them every Monday.

He said that was the essence of the introduction of the ‘Meatless Monday’ initiative. -GNA

Continue Reading

News

 Restore beauty of Kwame Nkrumah Circle area / State of Kwame Nkrumah Circle an eyesore!

A homeless man sleeping in the sand close to the removed blocks
A homeless man sleeping in the sand close to the removed blocks

Small size quarry stones fixed at open spac­es under the Kwame Nkrumah Circle Interchange was to leave the place open and free from activities of beggars and other activities of the homeless.

By the way the stones were fixed, it makes the area, particularly the VIP and Neoplan Station stretch of the Interchange, inhabit­able by the destitute.

But a walk through the area currently suggest the opposite.

At the median where pavement blocks have been taken over by these home­less and destitute, the area has been turned into a hotel where a number of these unfortunate ones have com­fortably laid their mattress­es and other stuff to rest from the day’s activities.

They have crossed over to the SSNIT and Kaneshie Station area with their activ­ities and have removed the quarry stones which were to ward them off the place to enable them find spaces to sleep comfortably.

Advertisement

The pavement blocks re­moved from different loca­tions under the interchange now serves as foundations on which beds were laid and in some cases, mosquito nets erected.

Their continued pres­ence is not only creating a nuisance for commuters but marring the beauty and serenity of the place.

Sadly, the activities of these deprived fellows have been ignored while the numbers keep increasing day by day.

The Spectator finds the development very worrying and calls on the responsible authorities to clear the area to restore the beauty and serenity of the area.

 By Victor A. Buxton

Advertisement
Continue Reading
Advertisement

Trending