Barclays Africa CEO Maria Ramos is consolidating operations around 13 African countries and the group plans to add three more regions to its portfolio of assets.
Earnings from the rest of Africa operations are expected to grow faster than from SA this financial year.
But some market commentators believe Barclays Africa still has to focus on cutting costs on the rest of the continent and grow revenue.
As part of the consolidation Ms Ramos and her team will be engaging regulators as the group looks to expand into Nigeria and acquire the Egyptian and Zimbabwean operations from parent Barclays plc. "We have applied for licences in Nigeria. It’s something that we have been looking at for quite some time," she said.
Barclays Africa has subsidiaries in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia.
The operations outside SA are starting to generate more to the bottom line and currently make up about