Atlas Mara confirms its interest in Barclays Africa

Apr 28, 2016

The investment firm wants to build a leading sub-Saharan financial institution.

Atlas Mara has mentioned a possible partnership with a consortium that is looking to purchase Barclays Africa.

"In response to recent press reports about our alleged interest in buying a 62.3 per cent stake in Barclays Plc Barclays Africa Limited, Atlas Mara acknowledges that it is in talks with a consortium of investors which studies the acquisition of a participation in Barclays Africa and a potential combination with Atlas Mara and Barclays Africa," said the investment firm, quoted by Financial Afrik.

The Board of Directors is supporting this possible combination "due to the expected positive impact on the acceleration of Atlas Mara strategy to build a leading sub-Saharan financial institution."

The investment firm has made a series of acquisitions in Africa in recent years, including the takeover of majority shares in the banking group BancABC, as well as in Finance Bank of Zambia and in Rwandan institutions Banque populaire du Rwanda and BRD Commercial Bank.

In December 2014, it increased its stake in Union Bank of Nigeria Plc to 29.9 per cent.

In a recent press release, the company said that its strategy "is to build a leading Pan-African banking platform by partnering with and investing in strong African Banks and African entrepreneurs".ADNFCR-2976-ID-801817474-ADNFCR