Barclays gets approval to sell down Barclays Africa stake

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© Reuters. A Barclays bank building is seen at Canary Wharf in London© Reuters. A Barclays bank building is seen at Canary Wharf in London

JOHANNESBURG (Reuters) – Barclays Plc (L:) has secured approval from the South African finance minister to sell down its stake in its regional unit, Barclays Africa (J:) to below 50 percent, Barclays Africa said on Wednesday.

Barclays said in early 2016 it would sell its 50 percent stake as part of a strategy to refocus on the United States and Britain.

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