Barclays Plc slashes 33.7 per cent stake in Africa unit

Barclays Bank branch in central London. PHOTO | TOBY MELVILLE | REUTERS

British banking giant Barclays Plc said Thursday it has further reduced its stake in its South African operations as part of a global strategic re-think unveiled last year.

Barclays said in a statement that it had placed a stake of 33.7 per cent in Barclays Africa with institutional investors, raising some £2.224 billion (about Sh296 billion).

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