{UAH} Ugandan Billionaire Set to Buy Barclays Africa

Ugandan Billionaire Ashish J. Thakkar

By: Sam Waswa

• Apr 27,2016

A Company co-owned by Ugandan Billionaire Ashish J. Thakkar has announced plans to acquire the assets of Barclays Africa which was recently let go by its British parent company Barclays.

Atlas Mara Limited, which was founded by Mr Thakkar and former Barclays Chief Executive Bob Diamond revealed yesterday that they were considering a bid on the troubled bank's African operations.

Diamond ran Barclays before he was kicked out in 2012 when the bank was plagued by the damaging Libor rate-fixing scandal.

Barclays announced last month that it will sell down its 62.3% interest in Barclays Africa to 20% over the next two to three years as part of a major restructuring.

Mr Diamond said that his company intended to acquire Barclays's controlling stake in its African business and to combine it with Atlas Mara.

http://www.chimpreports.com/ugandan-billionaire-set-to-buy-barclays-africa/

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