[2007-10-05]  Barclays to Invest £2.8m
By the end of this year, Barclays Bank will have invested up to £2.8m (sh9.9b) in a countrywide expansion programme, writes Patrick Jaramogi.

"We have just started. More branches are yet to be constructed. We have opened up seven branches in the last three months with each branch costing between £100,000 (sh350m) and £200,000 (sh700m)," the managing director, Nick Mbuvi, said.


"We want to open up seven more branches by the end of December. That will bring the number of branches opened this year to 14," Mbuvi said after opening the Hoima branch.

With the acquisition of Nile Bank this year, Barclays added 18 branches to its network of 13.

Since the beginning of 2007, Barclays has opened seven branches to bring its total branch network to 38.

The head of retail expansion change management, Wilbrod Owor, said over 2,000 clients had opened up accounts in the Hoima branch over the last one month.

The Hoima district chairman, George Tinkamanyire, said: "Hoima is beginning to shine. The arrival of Barclays is going to change the face of Hoima."



Source: Copyright © 2007 New Vision.