Barclays Africa shares dip on talk of sale

Speculation that Barclays Plc could be withdrawing from Africa after almost a century sent shares in its business, Barclays Africa Group, tumbling yesterday.

The British bank has said its board was evaluating strategic options for its 62.3 percent stake in the African business.

Shares in Barclays Africa, which is based in South Africa and operates in 11 other countries, dropped 6.8 per cent before recouping some losses to trade down 5.5 per cent at the close of trading.

The review comes within months of Jes Staley taking over as chief executive of the British lender at a time when it is required by regulators at home to hold more liquid assets to shore up defences against any future financial crises.