BARCLAYS Africa Group is intensifying its expansion into the rest of the continent with applications for licences in several countries.It has applied for a commercial banking licence in Nigeria and one for an insurance business in Kenya. The group further aims to buy its parent’s operations in Egypt and Zimbabwe, and will invest R1bn in operations outside SA this year.This is part of its efforts to get the revenue generated from rest of Africa operations to contribute between 20% and 25% of group revenue in 2016. Zimbabwe and Egypt are not part of this target.At present, the rest of Africa operations contribute 19% of group revenue, with the balance coming from SA.Barclays Africa CEO Maria Ramos said on Tuesday the group was awaiting the approval of a licence for its wealth, investment management and insurance operation in East Africa. "We are waiting for confirmation of our licence in Kenya."In addition, the group was awaiting a commercial banking and securities trading licence in ...
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