Absa to take over Bank Gaborone

Absa, which is 60 percent owned by Barclays Plc, on Friday announced that it has tabled a take over offer for Namibian financial services firm Capricorn Investment Holding (CIH) which is the majority shareholder in Bank Windhoek and Bank Gaborone.

If the deal goes ahead, it will result in two faces of Barclays Bank on the local market as the financial institution, which is UK's  third largest bank, and already has a 67 percent controlling stake in Barclays Bank Botswana.