Barclays Bank has announced plans to sell its Egypt operations as part of a wider Africa exit plan to focus on its core UK and US markets.

The decision comes after talks to fold its Egypt unit into its South African subsidiary failed last year.

"Accordingly, Barclays Bank concluded that another investor may be more able to develop banking business in Egypt," the British bank said.

Barclays has recently announced plans to sell its 62.3% stake in Barclays Africa Group.

Barclays Africa was formed three years ago in a deal in which Barclays handed over ownership of its eight African countries’ businesses to its South African subsidiary. Barclays’ operations in Egypt and Zimbabwe are not part of Barclays Africa.


How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.