{Atlas Mara, the Africa-focused financial services group owned by former Barclays chief executive Bob Diamond, has sold its 10.1 per cent stake in Brainworks Capital Management, which describes itself as “Zimbabwe’s pre-eminent private equity investment and advisory firm”.}<\/p>\n
The deal netted Atlas Mara $8.72m (\u00a35.56m), 1.4 times Brainworks’ reported book value. In a statement this morning, the company said the deal was “consistent” with its focus on its sub-Saharan African banking operations and strategy of selling non-core investments acquired in connection with its acquisition of ADC African Development Corporation.<\/p>\n
The move comes weeks after Zimbabwe decided to scrap its currency, which after hyperinflation in the early 2000s is almost worthless, altogether, opting instead to use the dollar.<\/p>\n
In April Atlas Mara was reported to be in talks to buy a 45 per cent stake in Banque Populaire du Rwanda for $22.5m, the company’s second banking acquisition in Rwanda. <\/p>\n
{{Source: Agencies}}<\/p>\n","protected":false},"excerpt":{"rendered":"
{Atlas Mara, the Africa-focused financial services group owned by former Barclays chief executive Bob Diamond, has sold its 10.1 per cent stake in Brainworks Capital Management, which describes itself as “Zimbabwe’s pre-eminent private equity investment and advisory firm”.} The deal netted Atlas Mara $8.72m (\u00a35.56m), 1.4 times Brainworks’ reported book value. In a statement this […]<\/p>\n","protected":false},"author":3,"featured_media":2000068903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-19849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000068903,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton19849.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton19849.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton19849.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton19849.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton19849.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton19849.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/19849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=19849"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/19849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000068903"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=19849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=19849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=19849"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=19849"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=19849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}