Ghana

Entered market 

1917

The Colonial Bank, predecessor of Barclays Bank (Dominion, Colonial and Overseas) first opened a branch in Accra in 1917. At the time of incorporation into DCO in 1925, there were 7 branches within Ghana. In 1956, a separate local head office was established in Accra, and the following year, Robert Mensah became the first African appointed as a Barclays branch manager in Togo. Prime Minister Kwame Nkrumah was present at the opening ceremony for the rebuilding of the original branch at Accra High Street in 1958, and praised Barclays for its role in the economic development of Ghana. By 1961, the number of savings accounts had grown from 14,000 in 1955 to 125,000, with a value of £8 million. By 1970, the business had grown even further, with Barclays Bank of Ghana having established 60 offices, including 25 branches. In 1975, the Ghanaian government acquired a 40% stake within Barclays Bank of Ghana. In 2003, this stake was bought back, and in 2004, Barclays Bank of Ghana was presented with the prestigious 'Bank of the Year' award. In 2006, Barclays Ghana agreed to provided two years worth of funding to credit unions within the country. In 2007, whilst celebrating their 90th anniversary, Barclays Ghana launched 'equal access' accounts for low-income Ghanaians, Barclays Aba Pa Current and Savings accounts, as well as establishing the first ever off-shore banking facilities in West Africa. 2007 was a big year for Barclays in Ghana. The Bank sponsored The Golden Home Coming, an event to celebrate 50 years of Ghana’s independence, and, amongst several community and charity projects, Barclays donated funds to the University of Cape Coast to help establish a medical school there. In 2009 Barclays Ghana donated £20,000 for schools in Accra to provide computer lessons, a similar amount for a new operating theatre at the Princes Marie Louise Children's Hospital in Accra, Ghana, and another £20,000 to launch an education project for disadvantaged pupils in partnership with the Academy for Educational Development, under the global Banking on Brighter Futures programme. Under the same programme, by 2010 Barclays Ghana had donated more than GHS42,500 to Mentori, a charity supporting the development of small and medium-sized enterprises in the country. Also in 2010 Barclays donated GHS45,000 to Challenging Heights, a charity aiming to improve the lives of young citizens affected by human trafficking and child abuse, part of the Looking After Local Communities programme. In 2010, it was announced that Barclays' African custody business was to be sold to Standard Chartered. In 2012 Barclays was named Bank of the Year in Ghana, by The Banker magazine, and in 2013 won the same magazine’s Deal of the Year award for its lead role in financing the design, construction and equipping of seven district hospitals in rural Ghana. In 2013 Barclays Ghana became the first bank in the country to establish 'intelligent' ATMs, which allow customers to carry out multiple transactions. Also in 2013, it was announced that Barclays Ghana was to be incorporated into Barclays Africa Group Ltd (BAGL), of which Barclays owned 62.3%. In May 2016 Barclays announced plans for a progressive reduction of its shareholding in BAGL, to be completed within 3 years, as part of its long term strategy and in response to prevailing regulatory capital rules and the UK bank levy, initially to 50.1% of BAGL’s capital. In 2017 the holding was further reduced to 16.4%. Full separation was announced in 2018, with provision for Barclays’ branding to be used until 2020.

Traded as

Colonial Bank