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Barclays Africa unit gets dealing license for Nigerian exchange

Barclays Africa Group Ltd. unit Absa Nigeria has obtained a securities licence in Nigeria to begin trading activities on the Nigerian stock market from July, Reuters reported May 31, citing the group's head of markets, Garth Klintworth.

Absa is also exploring opportunities in Ivory Coast, Morocco and potentially Angola, Klintworth said, as part of an overall drive to double its share of Africa's banking market to around 12% in the medium term.

"We have acquired a securities license, stock broking license, and we have already employed people to bring those licenses to effect," Klintworth told the newswire on the sidelines of a conference in the Nigerian commercial capital Lagos.