Britain’s third-largest bank will return to South Africa after nearly 20 years
offerering a staggering R33 billion to buy up 60 % of Absa Bank in South Africa. Finance Minister Trevor Manuel approved the deal on Sunday and 63 % of the Absa shareholders gave their written approval as well.

If the transaction becomes reality, it would be the largest single foreign
investment in South Africa since 1994, according to Radio Kosmos.
The purchase is also Barclays’ largest foreign investment but some job losses are imminent, the 2 banks said. Barclays was forced to leave South Africa in 1986 under pressure from anti-apartheid activists.