Barclays could retain its name in Africa after the exit of its British parent company, a top official said on Friday. Barclays' exit has become a very emotional subject owing to its century long presence on the continent. Barclays Bank Plc currently owns 50.1 per cent of Barclays Africa Group and plans sell it down in a structured manner over the next two to three years. Hodnett said the of the stake held by Barclays Plc would only have an impact in the shareholding of Barclays Africa Group and not any of the subsidiaries. “Barclays PLC has indicated it will ensure only the appropriate large scale investors take up the stake that will be offloaded,” he said.

Source: The Star May 30, 2016 03:56 UTC