BARCLAYS Africa on Tuesday said it would not
be deterred from expansion on the rest of the continent despite its
parents’ shareholding in the African operation falling to about 20% in
two to three years.
The local unit’s strategy included acquiring an insurance firm in Ghana and a securities licence in Nigeria this year.
Barclays Africa CEO Maria Ramos on Tuesday vowed that the group would continue to invest as it had done since 2013, despite the sell-down by Barclays Plc.
Management still had ambitions to build a big pan-African bank, she said.
Barclays Plc’s shares in London fell over 10% after it posted an 8% decline in profits to £2.1bn for the year ended December. It closed down 8.11%.
Barclays said its dividend in the 2016 and 2017 financial years would be cut by more than 50% to 3p per share from the 6.5p in 2015.
The local unit’s strategy included acquiring an insurance firm in Ghana and a securities licence in Nigeria this year.
Barclays Africa CEO Maria Ramos on Tuesday vowed that the group would continue to invest as it had done since 2013, despite the sell-down by Barclays Plc.
Management still had ambitions to build a big pan-African bank, she said.
Barclays Plc’s shares in London fell over 10% after it posted an 8% decline in profits to £2.1bn for the year ended December. It closed down 8.11%.
Barclays said its dividend in the 2016 and 2017 financial years would be cut by more than 50% to 3p per share from the 6.5p in 2015.
