Barclays completes Africa sale process

Barclays has transferred shares of Barclays Africa Group Limited shares to complete a sale agreed in June and confirm its 14.9% stake in its former subsidiary.

The transfer, which is expected to occur on 5 December 2017, will increase Barclays' pro-forma CET1 ratio as at 30 September by 12 basis points.

From an accounting perspective, Barclays' results had already reflected the 14.9% ownership level since the sale of a 33.7% stake on 1 June and contribution of a further 1.5% of BAGL's ordinary shares to a Black Economic Empowerment scheme in the third quarter.

Barclays confirmed that the current stake represents its desired long term shareholding in Barclays Africa and that no further sales are planned at this time.