Barclays Africa and pan-African ISP Africa Online, have announced the formation of an alliance to develop areas of mutual commercial interest. The alliance is intended to create a powerful link between financial services and the internet across sub-Saharan Africa.
The deal, announced in Nairobi, will initially focus on Kenya where a number of internet centres will be opened in September and October under a common brand name to be announced later.
Both companies have extensive pan-African networks and are leaders in their respective fields of financial and internet services. They have a combined representation in 12 countries across Africa and the Indian Ocean - Kenya, Zimbabwe, Cote d`Ivoire, Tanzania, Uganda, Ghana, Botswana, Zambia, Swaziland, Namibia, Mauritius & Seychelles.
Dominic Bruynseels, CEO of Barclays Africa, said "We are continually looking for new and innovative ways to develop our business and our exciting new relationship with Africa Online, the continent`s leading Internet Service Provider, will enable us to develop some great opportunities for our customers."
"Barclays is the leading internet bank in the UK and has a substantial ongoing programme of investment in the development of e-propositions. Through our alliance with Africa Online, we will be looking to exploit these developments and the associated customer benefits as appropriate to the African environment" he added.
Ayisi Makatiani, Co-founder and CEO of Africa Online Holdings said, "We expect to see an increasing number of African businesses evolving from traditional `bricks and mortar` operations into the `clicks and mortar` model.
"Africa Online provides a pan-African reach which; combined with our experience, knowledge and understanding of African trading environments; makes us an ideal partner for businesses seeking to navigate the steep learning curve involved in making the transition to e-commerce."
"Developing alliances with blue chip strategic partners is a key aspect of our plans for growth and development in this area and we are delighted to link up with Barclays as a key global player in the financial services industry. We hope to bring the benefits of this agreement to our clients and business partners across the continent" he added.
Africa Online is backed by African Lakes Corporation plc, a trans-African enterprise focused on new technology and technical solutions for Africa. African Lakes, which is listed on both the London and Nairobi Stock Exchanges, initially invested in Africa Online by way of convertible loan notes in October 1998 and has funded its growth since then. The investment is expected to be converted into an equity interest of not less than 65% of Africa Online during the current calendar year.
The Group`s strategy is to provide progressive Africa with product and services relevant to the 21st Century and it is presently focused on three main areas - Internet Services (Africa Online); Information & Communications Technology and also Automotive. The Group is committed to providing services in these areas, which will assist in the growth and development of enterprise in the sub-Saharan region.
Share
