Into Africa, with care
PROFILE: Barclays Africa’s Nomkhita Nqweni
Having easily overcome hurdles along the great march into the continent, she is best placed to expand the business into countries to the north of SA
Nomkhita Nqweni: Barclays Africa CEO for wealth, investment management & insurance. Nomkhita Nqweni oozes confidence, and has the appearance of a manager completely in charge. She is Barclays Africa’s CEO for wealth, investment management and insurance, making her responsible for over 4m policies. Nqweni maintains an open-door policy for the 4,000 people that she’s responsible for. These staff of Barclays Africa are the people who make up its asset management and insurance business. It also includes the stockbroking unit. It’s a significant business, comprising about 10% of the value of Barclays Africa, even though it has a presence in only five of the nine African countries in which the group operates. "Part of our growth plan is to mimic the growth path that the group has into Africa," says Nqweni. The unit manages about R340bn in assets on behalf of clients. In the latest reporting period, Nqweni’s unit delivered a 24% return on equity. One of the major markets that the unit has ...
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