Barclays Africa set to issue less debt in 2016

Barclays Africa Group will issue less debt in 2016 as lending growth slows and the company’s parent considers ways of reducing its stake in South Africa’s third-largest bank.

The lender, which relies on debt capital markets for less than 10 percent of its funding, is paring back on issuance as South Africa’s economy slows and after average yields on rand-denominated government bonds jumped by more than 140 basis points over the past year.