Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Barclays Africa Group Ltd    ASAJ   ZAE000174124

BARCLAYS AFRICA GROUP LTD (ASAJ)
Mes dernières consult.
Most popular
  Report  
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Barclays Africa : Two banks drop McKinsey in fallout from South Africa scandal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/30/2017 | 12:32pm CEST
FILE PHOTO - A Barclays logo is pictured outside the Barclays towers in Johannesburg

JOHANNESBURG (Reuters) - Barclays Africa (>> Barclays Africa Group Ltd) and Standard Bank (>> Standard Bank Group Ltd) said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma.

JOHANNESBURG (Reuters) - Barclays Africa (>> Barclays Africa Group Ltd) and Standard Bank (>> Standard Bank Group Ltd) said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma.

Privately-held McKinsey, the world's largest management consultancy, has denied doing anything illegal but said this month that it was embarrassed by mistakes it made while working with South African state utility Eskom last year.

McKinsey said it regretted working on a 1.6 billion rand ($113 million) contract at Eskom alongside a company controlled by the Gupta family, wealthy friends of President Zuma who are accused of unduly influencing government contracts.

Zuma and the Guptas deny wrongdoing.

Barclays Africa and Standard Bank told Reuters in separate emailed responses to questions that they would terminate their relationships with McKinsey without giving reasons.

McKinsey declined to comment.

The Gupta brothers, who work with Zuma's son, Duduzane, were accused by South Africa's anti-corruption watchdog last year of using control over state agencies to siphon public funds.

South Africa's parliamentary committee on public enterprises is investigating whether McKinsey knowingly let funds from Eskom be diverted to Gupta-controlled firm, Trillian, as a way of securing the deal.

Corruption Watch, a South African anti-graft NGO, is preparing a submission to the U.S. Department of Justice asking it to investigate McKinsey's dealings with Trillian.

(Reporting by TJ Strydom; Writing by Joe Brock; Editing by Louise Heavens)

By TJ Strydom

Stocks treated in this article : Barclays Africa Group Ltd, Standard Bank Group Ltd
Stocks mentioned in the article
ChangeLast1st jan.
STANDARD BANK GROUP LTD -0.52% 224.5 End-of-day quote.15.13%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BARCLAYS AFRICA GROUP LTD
04/11BARCLAYS : enters crucial phase of change
AQ
04/11BBK fights for Absa name in court
AQ
04/11BARCLAYS AFRICA GROUP : Ex-dividend day for for final dividend
FA
04/10BARCLAYS : Bank boss’s future uncertain
AQ
04/10BARCLAYS AFRICA : shares weaken as company restructures
AQ
04/10BARCLAYS AFRICA : shares weaken as company restructures
AQ
04/09BARCLAYS AFRICA : to split into 4 units
AQ
04/09BARCLAYS AFRICA : restructures executive committee
AQ
04/03BARCLAYS AFRICA : breaks GH500m profit mark
AQ
04/03BARCLAYS AFRICA : breaks GH¢500m profit mark …ahead of rebranding to Absa
AQ
More news
News from SeekingAlpha
03/01Barclays Africa Group Ltd ADR 2017 Q4 - Results - Earnings Call Slides 
2017BARCLAYS AFRICA : The Most Undervalued South African Bank 
2016Buy South-African Banks For Their Dividend Yield 
20154 Ways American Investors Can Invest In Africa 
Financials ( ZAR)
Sales 2018 77 220 M
EBIT 2018 30 574 M
Net income 2018 16 222 M
Debt 2018 -
Yield 2018 6,29%
P/E ratio 2018 9,30
P/E ratio 2019 8,45
Capi. / Sales 2018 1,98x
Capi. / Sales 2019 1,84x
Capitalization 153 B
Chart BARCLAYS AFRICA GROUP LTD
Duration : Period :
Barclays Africa Group Ltd Technical Analysis Chart | ASAJ | ZAE000174124 | 4-Traders
Technical analysis trends BARCLAYS AFRICA GROUP LTD
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 206  ZAR
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Maria Ramos Group Chief Executive Officer & Executive Director
Wendy Elizabeth Lucas-Bull Chairman
Charles Russon Chief Operating Officer
Jason P. Quinn Finance Director & Director
Trevor Stewart Munday Lead Independent Non-Executive Director
Sector and Competitors