Barclays Executives Struggle to Manage Africa Selloff Fallout – Wall Street Journal

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NAIROBI, Kenya—Barclays executives in Africa raced to contain the fallout from Barclays Bank PLC’s formal announcement Tuesday that it would sell off its assets on the continent.

The move couldn’t come at a worse time: South Africa, where most of Barclays’ Africa business is, is facing a protracted economic slowdown and on Tuesday announced its economy would grow by 0.9% this year, well below the continent’s average, while in many…

Barclays Executives Struggle to Manage Africa Selloff Fallout – Wall Street Journal