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Barclays Africa evaluating options as UK bank prepares exit

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Barclays bank (AFP)
Barclays bank (AFP)

Cape Town – While Barclays CEO Jes Staley prepares to announce the fate of the lender’s African business, Barclays Africa said its board is evaluating its strategic options.

“We remain committed to Africa, where we continue to be optimistic about our growth prospects and to operate in the normal course of business,” the group that includes Absa and which is headed by CEO Maria Ramos, said in a series of tweets on Sunday and Monday.

“(The) board is evaluating its strategic options in relation to its BAGL (Barclays Africa Group Limited) shareholding. We expect to update the market on 1 March.”

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