Barclays Africa unit moves to allay fears

Barclays Africa Group Limited (BAGL) says it is committed to the continent after an earlier announcement by its British parent to gradually reduce its majority stake in the unit. Barclays announced early Tuesday its intention to sell down its 62.3-percent interest in the African unit, revealing annual losses after tax of £394 million ($549 million, 505 million euros) for the bank as a whole.