Barclays Bank Set To Exit Africa Business.

Barclays Bank is expected to pull out of Africa business after a century in the continent. Announcement by CEO Jos Staley expected on Tuesday.

The British bank has decided to exit its African operations in order to refocus the bank on its core UK and US markets, this was after a review of the African business led by CEO Jes Staley, barclays board decided last week that it made strategic sense to get out Africa, this was according to people familiar with the matter.
A subcommittee however has been set to examine the practicalities of how and when to sell Barclays Africa Business.

Barclays Africa Group Ltd has over 40,000 staff spread in 12 countries including Kenya, Uganda, Seychelles, Mauritius, Zambia, South Africa and Botswana. With Barclays South Africa having over 9 million customers, contributes the lion’s share of revenue to the group followed by Kenya and Tanzania.