Diamond buys African bank

Tim Wallace
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EX-BARCLAYS boss Bob Diamond yesterday bought his way back into the banking sector in a $265m (£192.3m) deal to buy an African bank.

Diamond’s shell firm Atlas Mara snapped up a majority stake in BancABC, a Botswana-based lender with operations across the continent. It is also buying the ADC African Development Corporation.

“Our objective is to build Africa’s premier financial services group,” Diamond said.