More than 15 years ago an ambitious transnational corporate alliance was completed when British bank Barclays acquired control of SA’s Absa. That deal, a foreign direct investment of R33bn, was seen as a vote of confidence in SA’s capital markets and the highly regulated banking sector in particular.

The merits of the deal were easy to digest. By owning Absa Barclays would be able to spread its wings into the African continent. On the other hand Absa, facing stiff competition in its domestic market, would be able to leverage the financial muscle of the Barclays brand to widen its footprint...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now