Uganda

Entered market 

1927

In 1927, Barclays Bank (Dominion, Colonial and Overseas) opened branches in Jinja and Kampala. Following independence in 1964, a separate local board for Uganda was established from Kampala in 1966. The Ugandan business of Barclays DCO was one of the first in Africa to be locally incorporated as Barclays Bank of Uganda in 1969, and at the same time, Barclays acquired the Ugandan business of the French bank SFOM, the Commercial Bank of Africa. By this time, there were 9 branches and 33 other offices. During the chaos and invasion following the overthrow of President Amin in 1979, branches were looted and staff attacked. Sadly two lost their lives, and many staff lost everything they owned.   After years of civil war, in 1985, the branch in Archbishop Luwum Street was rebuilt, and Barclays took a leading role in financing the coffee industry as a way to rebuild the country's economy. In 1987 the Bank celebrated its diamond jubilee in Uganda with various events, including a concert featuring an anthem composed for the Barclays choir which was broadcast on national radio. Barclays was the first bank in East Africa to computerise its accounting, and the first in Uganda to have same-day accounting and clearing for all branches. In 1989 the remote Jinja branch was linked to the computer centre in Kampala. In 2004, the first credit card was launched for Prestige customers. It was agreed in 2006 that Barclays would acquire 100% of the shares of the Nile Bank, the 7th largest commercial bank in Uganda - the deal was completed in 2007. 2007 also saw the launch of two low-income accounts for Ugandans, the Sanyuka Savings and Bank Accounts. The 'Katine: it starts with a village' partnership between Barclays, Guardian News and Media and the African Medical and Research Foundation, was also launched in 2007, a three-year programme to improve living conditions in Uganda. As part of this programme, Barclays opened branches and trained Ugandans in financial literacy. This programme was honoured at the 2011 Business in the Community Awards. In 2008, Barclays Uganda offered loans to small and medium enterprises for the first time. In the same year support was given to the Roses of Mbuya charity, a community project working with people who have HIV/Aids, helping them to develop skills and earn a living, under the Banking on Brighter Futures programme. This was followed by a partnership with Reach Out Mbuya, helping children orphaned by HIV/Aids. In 2010 Barclays launched online banking services for personal and business customers in Uganda. The same year also saw Barclays Uganda begin a campaign to plant indigenous trees in the Nonve National Forest near Kampala, to be named Barclays Forest Reserve. In 2013 it was announced that Barclays’ African businesses would be incorporated in a new business grouping, 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

Barclays International