Atlas Mara, the company co-founded by former Barclays CEO Bob Diamond to invest in African financial businesses, is reportedly holding negotiations to acquire Finance Bank Zambia (FBZ).

The firm, which began negotiations with the Zambian bank in March 2015, is conducting due diligence at the Zambian lender, according to a Bloomberg report.

Atlas Mara may announce a deal within a month, the publication reported citing people familiar with the development.

Atlas Mara already has operations in Zambia following its purchase of BancABC in 2014.

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By GlobalData