Banking | - Part 12

South Africa | PIC in Talks to Create Group to Bid for Barclays Africa Stake

Johannesburg, South Africa, Capital Markets in Africa: The Public Investment Corp., Africa’s biggest fund manager, said it’s forming a group of black investors to buy a stake in Barclays Africa Group Ltd. in a bid to ensure the bank comes back under the control of South Africans. “There are discussions with institutional investors managing black money, such as pension funds,” Dan Matjila, head of the Pretoria-based PIC, said by phone on Monday. As yet it’s difficult to say how…

Attijariwafa Said to Work With UBS on Bid for Barclays Egypt

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Casablanca, Morocco, Capital Markets in Africa: Attijariwafa Bank, Morocco’s biggest lender, is working with UBS Group AG on a potential bid for Barclays Plc’s Egyptian business, people familiar with the matter said. The U.K. bank has received limited interest for the business after reaching out to Gulf-based banks, two of the people said, asking not to be identified as the information is private. The British bank has yet to receive any non-binding offers, they said. Chief Executive Officer Jes…

Barclays Africa Mulls Investment-Bank Venture Post Parent’s Exit

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Johannesburg, South Africa, Capital Markets in Africa: Barclays Africa Group Limited said it is considering a joint investment-banking venture with Barclays Plc as its London-based parent plans to further reduce its controlling stake. “At the corporate and investment bank the synergies provided a significant advantage,” Barclays Africa Chairwoman Wendy Lucas-Bull said at the Johannesburg-based bank’s annual general meeting on Tuesday. “We are looking at the issues business by business and at what the options are, like a joint venture.” Barclays sold…

SWIFT’s messaging traffic grows by 12.5 percent in Africa

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Mauritius, 17 May 2016 – Data from SWIFT shows that Africa’s traffic growth has outperformed the total growth of SWIFT globally. In the year to date, total message traffic volumes grew by 12.8% versus 5.4% growth for SWIFT worldwide, illustrating that Africa plays an increasingly important role in SWIFT’s global business. Levels of growth were also significantly higher than in EMEA at 3.2% and the Americas at 6.7%, and closely behind Asia Pacific at 15%….

Investment | Nedbank Group Hunting for Kenyan Acquisition as Parent Mulls Exit Plan

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Johannesburg, South Africa, Capital Markets in Africa: Nedbank Group Limited, the South African lender being spun off from parent Old Mutual Plc, said it’s in talks that may lead to the acquisition of a Kenyan bank as it seeks to benefit from an economic growth rate that’s double the average for the rest of the continent. “Within the next 12 months we’ll certainly be looking to do a deal,” Mfundo Nkuhlu, chief operating officer of Johannesburg-based Nedbank,…

Private Equity | Barclays Africa Said to Attract Abraaj-Led Group for Stake

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LAGOS, Nigeria, Capital Markets in Africa: Buyout firm Abraaj Group is leading a group of investors planning to bid for a minority stake in Barclays Plc’s African unit, according to people familiar with the matter. Abraaj is working with financial advisers and is in discussions to team up with other investors including a Middle Eastern sovereign wealth fund, the people said, asking not to be identified as the information is private. The private equity firm may bid for as…

FBN Says Director Questioned as Nigeria Probes Bank Transactions

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LAGOS, Nigeria, Capital Markets in Africa: FBN Holdings Plc, Nigeria’s biggest lender by assets, said one of its directors was invited and questioned by the Economic and Financial Crimes Commission as part of a wider probe into alleged illegal transactions by the country’s banks. Executive Director Dauda Lawal was questioned about sums allegedly distributed by a former minister of petroleum, and is cooperating fully with the agency, the Lagos-based lender said in a statement Friday on the Nigerian…

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