Public Investment Corporation buys stake at Barclays.

Barclay's Africa Group on sale and more business news

barclay bank exit africa
Barclay's bank

Finally Barclay's Africa Group South Africa got a buyer after parent company Barclays Plc's boss Jes Staley announced its sale some two months ago.South African Investment company,Public Investment Corporation SOC Limited parted with over ksh90bn to retain a better stake of Barclays Africa on May 3.

Atlas Mara boss ,Bob Diamond  former Barclay's Chief, had originally shown interest in blocking African investors from taking stake. He preferred participants from Asian continent in buying Barclay's Africa off.However, Atlas Mara a financial investment giant company already with shares at the Nigeria's GTbank, is expected to bag the remaining stake though not in full.
See why Bob preferred East investors for Barclay's Africa Group

Barcalys bank of Kenya boss, Jeremy Awori said that the UK's Barclay's PLC won't leave wholly.Barclay's bank kenya is owned partly by the South African Barclay's Africa Group at 68% .


Write a comment