Barclays Africa Group apologised for its role in a rand-fixing affair involving more than a dozen banks, saying it alerted regulators about the practice after suspending two traders. "We deeply regret that this conduct took place within our organisation," CEO Maria Ramos said on a conference call on Thursday, without identifying the employees. "Those who contravened our rules will be held accountable." The Competition Commission listed more than a dozen banks, including Barclays Africa, in its probe earlier in February and named more than 30 traders for price fixing and market allocation in the trading of foreign-currency pairs involving the rand. On February 20, Citigroup said that it agreed to pay a penalty of almost R70m to settle the case, and would make witnesses available to help prosecute other banks. Barclays Africa’s Absa unit said in a statement on Thursday that the Competition Commission was not seeking any administrative penalty against the bank. The lender said it broug...

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