The company is one of Africa’s largest banks, employing about 44,000 people and running 1,267 branches.
The decision marks a symbolic reversal for Barclays. The bank built up its African banking network over nearly a century, making it one of the leading Western banks, along withStandard CharteredPLC andCitigroupInc.,operating on the continent. Successive CEOs touted the business as a growth driver for the British bank. But amid investor and regulatory pressure Barclays, like many of its European peers, is having to damp down its global ambitions.
– The Wall Street Journal
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