Barclays rolls out African ambitions

IN THE DARK DAYS of apartheid, Barclays was criticised over its links with South Africa but now its commitment to the continent looks like good business sense. The bank has suffered from a dual structure in Africa which has prevented it aligning the business with the rest of its global retail operation. Now a reverse takeover of its regional subsidiaries by Absa, the Barclays controlled lender, looks set to accelerate its “One Africa” strategy articulated by former CEO Bob Diamond last year.

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