The youngest of the African billionaires covets 4 or 5 Barclays Africa subsidiaries

Boubacar Diallo

Tanzanian tycoon Mohammed Dewji announced in an interview on March 24 with the American news channel CNN that he is interested in the takeover of certain African assets from the British bank Barclays which intends to withdraw from the continent of here two to three years.

“I have wanted to buy a bank for four or five years. I am very interested in the assets of Barclays Africa which we are going to take a closer look at, ”said the 40-year-old billionaire. And to add: “I do not know how we are going to be positioned because I am sure that Barclays is looking for a buyer able to acquire all of its 62% stake. But months, I want to acquire four or five subsidiaries only ”.

Mohammed Dewji, who has a fortune estimated at $ 1.1 billion according to the latest ranking of billionaires in the world established by the American magazine Forbes, said he was particularly interested in the Kenyan and Tanzanian subsidiaries of Barclays, and more generally by the bank’s operations in East Africa.

Mr. Dewji is the boss of Mohammed Enterprises Tanzania Limited (METL), a conglomerate which operates mainly in the textile, flour milling and beverage sectors in 11 African countries: Tanzania, Uganda, Ethiopia, Kenya, South Sudan, Rwanda , Burundi, Zambia, Mozambique, Malawi, DR Congo.

Several African and European banks, including Atlas Mara, Attijariwafa Bank, Falcon Private Bank and Equity Bank, have already expressed interest in taking over African assets from Barclays.

Source: agenceecofin

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