Barclays has offloaded a stake worth about £2.2bn in its African business as it presses ahead with boss Jes Staleys plan to streamline the bank and focus it on Britain and the US.
The FTSE 100 giant has sold a 34pc chunk of Barclays Africa after securing approval for the disposal from the South African government.
The deal slashes the banks stake in the Johannesburg-listed subsidiary from 50.1pc to 16pc, and means Barclays has reached its goal of owning less than 20pc of the African business and deconsolidating the subsidiary from its accounts.
It represents a key milestone in the execution of our strategy and the restructuring of Barclays, Mr Staley said.
The 60-year-old American took the helm in December 2015 and has set about ov…
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