Confirmed...Barclays selling Africa stake

Business
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British bank Barclays has confirmed it will sell its stake in Barclays Africa.

The bank has a 62.3 per cent share in the African operation. Speculation has been rife that Barclays wants to get out of Africa.

“As part of the simplification of the group, we have decided, subject to required shareholder and regulatory approval, to reduce our interest in Barclays Africa to a non controlling, non consolidated position over the next 2-3 years,” said Jes Staley, CEO of Barclays PLC.

The banking giant revealed annual after-tax losses of $549 million.

Consequently, Barclays has reduced its business to two divisions — Barclays UK and Barclays Corporate and International.

Source: nation.co.ke
http://www.nation.co.ke/business/corporates/Barclays-will-be-selling-its-stake-in-Barclays-Africa/-/1954162/3098150/-/1rgsr6/-/index.html

2

hao na stranded chatterers ni watu siwezi karibia hata nikisikia wanapeana pesa bure…who is buying them out? Equity or some Noijas?

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Either ogas ama waarabu most likely.

4

Hapo hakuna shida. Waishie. Kwani equity, family bank etc wametoka majuu?

1 Like
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Im confused. Barclays bank is not owned by barclays? i get there are shareholders who own part of the company barclays, but if they sell their stake, does that mean with my millions i could buy their stake and continue running “whatever” is left behind as a bank division?

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Of course they will not sell at a loss. You have to have the right amount of money, the right vision, history etc.