another view from allafrica.com
THE British government is ratcheting up pressure on Barclays Bank plc, the UK fourth largest bank to pull out of Zimbabwe, as London seeks to pile up financial sanctions on Harare.
But Barclays Zimbabwe, which is 67,8 percent owned by Barclays plc, reinforced yesterday it will not pull out of the country it has serviced for nearly a century.
"Barclays has operated in Zimbabwe for almost 100 years, serving interest of the Zimbabwean people under successive governments, in a way that we believe to be responsible and ethical," said Barclays head of corporate affairs Valeta Mthimkulu.
"Wherever we operate, we are apolitical and we seek to comply with relevant laws."
A member of the Welsh Assembly in the UK Lesley Griffiths, has written to senior executives at Barclays Bank UK calling on them to "make a stand" against Zimbabwe through suspension of its operations in the country.
She has written to the Barclays Bank chairman, Marcus Agius and chief executive John Varley, urging them to stop operating here until the economic challenges are resolved.
Barclays Zimbabwe, the country's biggest bank by market capitalisation ($17 150 trillion) said it would be irresponsible to suspend operations as over 10 000 people rely upon the bank for the financial security.
"We have around 2 000 staff and pensioners in Zimbabwe," said Mthimkulu.
"Typically, each will have three to four direct dependents, meaning that there are some 8 000 to 10 000 people which rely upon Barclays for their financial security.
"Maintaining the security of their incomes, as well as their safety is of prime importance to us."