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Vol 55 No 8

Published 18th April 2014


Another Diamond raises cash for Harare

Promises of a bond issue and a revival in investment from a fund run by the former head of Barclays Bank offer a glimmer of hope for the government

After six months of unmitigated bad economic news, Finance Minister Patrick Chinamasa has seized on the news that the Atlas Mara fund run by Bob Diamond, a former Chief Executive Officer of Barclays Bank, is investing heavily in regional banks. Diamond quit Barclays in July 2012 after the bank was fined for manipulating key interest rates. He went into partnership with Ugandan entrepreneur Ashish Thakkar and raised US$325 million in December for the Atlas Mara Fund, which will concentrate on investments in Africa.

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