Cairo – Mubasher: London-listed Barclays Plc said Wednesday it would divest its businesses in Egypt as well as in other African markets.
The move is aimed to shift focus to simpler businesses in retail, corporate and investment segments, the bank added.
The bank will include Egypt arm as well as a number of business units in its "non-strategic businesses" segment that was launched in May 2014 to supervise businesses the bank plans to sell or divest.
Some major global banks decided to exit the Egyptian market starting 2013, mainly France's Societe Generale and BNP Paribas that sold their respective units in Egypt to Qatar National Bank and Emirates NBD.
