BARCLAYS Africa on Tuesday said it would not be deterred from expansion on the rest of the continent despite its parents’ shareholding in the African operation falling to about 20% in two to three years.The local unit’s strategy included acquiring an insurance firm in Ghana and a securities licence in Nigeria this year.Barclays Africa CEO Maria Ramos on Tuesday vowed that the group would continue to invest as it had done since 2013, despite the sell-down by Barclays Plc.Management still had ambitions to build a big pan-African bank, she said.Barclays Plc’s shares in London fell over 10% after it posted an 8% decline in profits to £2.1bn for the year ended December. It closed down 8.11%.Barclays said its dividend in the 2016 and 2017 financial years would be cut by more than 50% to 3p per share from the 6.5p in 2015.By contrast, Barclays Africa’s shares rose more than 4% and ended the day 2.12% higher to R138, boosted by what analysts said were good results.Ms Ramos emphasised that B...
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