Bar­clays to sell fi­nal Africa stake

The East African - - NEWS - Reuters

have led a mil­i­tary op­er­a­tion against those seen as op­po­nents of Mr Mu­gabe in Mata­bele­land in the early 1980s.

The op­er­a­tion, led by the North-korean trained Fifth Bri­gade of the army, re­sulted in the killing of an es­ti­mated 20,000 civil­ians.

As lands min­is­ter, he will pre­sum­ably be in charge of Zim­babwe’s con­tro­ver­sial land re­form pro­gramme.

The pro­gramme led to the seizure of thou­sands of farms owned by the white mi­nor­ity. Crit­ics say this wrecked Zim­babwe’s once thriv­ing econ­omy and mil­lions of Zim­bab­weans left the coun­try to find work else­where.

Other lead­ers of the pow­er­ful War Vet­er­ans’ As­so­ci­a­tion, who pushed for Mr Mu­gabe to go after the mil­i­tary in­ter­ven­tion, also got Cab­i­net jobs.

Chris Mutsvangwa, who heads the group, is now the in­for­ma­tion min­is­ter.

The two new vice-pres­i­dents have not been appointed yet.

The BBC’S Shin­gai Nyoka in Harare says all eyes are on the gen­eral who led the mil­i­tary takeover, Gen Con­stantino Chi­wenga.

Zim­bab­wean com­men­ta­tors are wait­ing to see whether he will be re­warded with a vi­cepres­i­dency.

A SPE­CIAL COR­RE­SPON­DENT

BAR­CLAYS WILL sell a seven per cent stake in Jo­han­nes­burg­based Bar­clays Africa Group on De­cem­ber 5, the Bri­tish bank said on Fri­day, the lat­est and prob­a­bly last in a series of such sales, as it ends more than 90 years as a major pres­ence on the con­ti­nent.

Bar­clays said after the sale its stake in the African di­vi­sion would be 14.9 per cent — which rep­re­sents its de­sired longterm goal. No fur­ther sales are planned.

The Bri­tish bank first an­nounced in March 2016 that it would sell most of its then 62 per cent stake in Bar­clays Africa over two to three years, as the bank re­fo­cused its strat­egy on the US and the UK un­der chief ex­ec­u­tive Jes Sta­ley.

“This news should be warmly re­ceived by share­hold­ers and is a fur­ther step along the path to elim­i­nat­ing non-core ac­tiv­i­ties as the man­age­ment fo­cuses on its UK busi­ness,” John Cronin, fi­nan­cial an­a­lyst at Dublin-based bro­ker­age Good­body, said.

Shares in Bar­clays Africa have risen by 9.7 per cent since Bar­clays an­nounced it would sell the unit in March 2016.

Pic­ture: File

Zim­babwe War Vet­er­ans’ as­so­ci­a­tion chair­man Chris Mutsvangwa at a press con­fer­ence on Novem­ber 21 in Harare. He is now the min­is­ter for in­for­ma­tion..

Pic­ture: File

Bar­clays Kenya CEO Jeremy Awori.

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