Barclays cuts its stake further in Africa unit

Barclays is selling a 7pc stake in its African unit, Barclays Africa Group, cutting its shareholding from 21.9pc to 14.9pc. Barclays said this represented its “desired long-term shareholding” in Barclays Africa. It has been reducing its stake since March 2016, at which point it held 62pc of Barclays Africa. It has been a major player in Africa for the past 90 years.