• 01 Apr 2014 at 3:32 PM
  • Banks

Bob Diamond Is So Very Close To Running A Bank Again

The former Barclays chief’s new hobby is buying financial firms in Africa.

Atlas Mara announced on Monday that it had agreed to take the stake in ABC Holdings, which operates the African bank BancABC, and to acquire its controlling shareholder, ADC African Development Corporation, for about $265 million in cash and shares.

“When we founded Atlas Mara, we did so with the intention of identifying and partnering with exceptional multi-country African financial services companies,” Mr. Diamond said in a statement. “Our objective is to build Africa’s premier financial services group leveraging the access to capital, liquidity and funding that we at Atlas Mara can provide….”

BancABC, which was founded in 1956, operates in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe and has a group-services office in South Africa. The company, based in Botswana, is listed in Botswana and Zimbabwe.

Diamond’s New Venture Plans to Acquire African Bank [DealBook]

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Comments (5)

  1. Posted by guesst | April 1, 2014 at 4:23 PM

    Just call me Bob "Blood" Diamond.

    -Bob Diamond

  2. Posted by pokey | April 1, 2014 at 5:06 PM

    Why don't these slime bags crawl into the desert sun, dry up, and die?

  3. Posted by mr_blonde | April 1, 2014 at 7:18 PM

    So does Banc ABC follow directly behind Banc Aaa Aardvark in the Botswana yellow pages?

  4. Posted by Guest | April 1, 2014 at 10:21 PM

    Bob, contact me for a great lending opportunity.

    -Nigerian Prince Kumalo

  5. Posted by Charles Marlow | April 2, 2014 at 10:30 AM

    Mr. Kurtz is that you?