Private equity firm Abraaj Group is interested in buying Barclays’s African business. According to Arif Naqvi, CEO of the group, it is a very fine bank run by a very fine management team, and if the opportunity were to re-present itself, Abraaj Group would certainly be one of those that would be at the table. So far, there have been no talks between the two. Abraaj Group invests across emerging markets. Barclays had said it plans to seel its 62% stake over two to three years. Barclays now holds 50.1% stake in the unit. Abraaj and other investors had previously planned to bid for a minority stake in Barclays Africa. Barclays sold part of its controlling stake in Barclays Africa Group in May as part of a plan to cut its holding to 20% or less.
