Johannesburg - Barclays Africa, majority owned by UK-based Barclays, has pledged R1.4 billion to improve skills development and access to quality education.
It has also vowed to raise R1.3bn to help small and medium-sized African businesses succeed and grow, and to ensure that more people have access to digital and non-digital financial services across the continent.
The allocations are being made under its Shared Growth initiative.
Speaking at a press briefing in Johannesburg on Monday, CEO Maria Ramos, said “shared growth for us means having a positive impact on society and delivering shareholder value, the two are not mutually exclusive.
“We are applying our substantial resources to provide innovative commercial products, services and partnerships to build a more equitable and prosperous Africa for the next generation.”
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Shared Growth is based on creating shared value. It emphasises the connections between societal and economic progress, showing that they are mutually dependent, and when unleashed can stimulate substantial growth, says Barclays Africa.
As part of the Shared Growth Strategy, Barclays Africa also announced the appointment of a Shared Growth Advisory Council.
Barclays is in the process of slowly selling its stake in barclays Africa.
IOL