Ugandan billionaire businessman Ashish J Thakkar is in the bid for Barclays’ African operations.
Barclays last month announced that it would sell down its 62.3% interest in Barclays Africa to 20% over the next two to three years. Mr Ashish, through his finance company, Atlas Mara revealed in a statement that it has held talks with investors over the possible acquisition.
“Atlas Mara Limited acknowledges that it has had discussions with a consortium of investors that is exploring an acquisition of Barclays’ stake in Barclays Africa and a potential combination of Atlas Mara with Barclays Africa’ read the statement
The consortium includes private equity vehicle Atlas Merchant capital which was established by Bob Diamond and the Mara Group founded by billionaire businessman Ashish J Thakkar.
Mr Thakkar together with former Barclays boss Bob Diamond, formed Atlas Mara in 2013 with the aim of consolidating financial services companies in Africa. The company has so far made acquisitions in seven sub-Saharan countries from Botswana to Nigeria with plans to expand to over 10 more markets over the next few years.
Diamond was forced to resign as Barclays chief executive in July 2012 when the bank was plagued by the damaging Libor rate-fixing scandal.
Mara Group has a diverse range of business ranging in Real Estate, tourism, financial services, information and communications technology, renewable energy and manufacturing.