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by Stanley Karombo


JOHANNESBURG, March 1 (Xinhua) -- British bank Barclays' decision to disinvest in Barclays Africa has nothing to do with the political situation in South Africa Chris Paul Womens Jersey , Barclays Africa CEO Maria Ramos said on Tuesday.


Ramos said the withdrawal was triggered by the global regulatory factors.


Barclays on Tuesday announced its intention to sell down their 62.3 percent stake in Barclays Africa over 2-3 years.


According to Ramos, the current global environment makes it almost difficulty to spread wings to other countries and establish subsidiaries.


""(It has) nothing to do with any conspiracy and nothing to do with the economic environment whether it's in South Africa or anywhere across our continent. This decision has been driven by the regulatory environment and the regulatory bid,"" Ramose told a private Johannesburg-based radio station, Talk-radio 702.


""We are deeply committed to the communities in which we live and work and today Hakeem Olajuwon Womens Jersey , when we announced our financial results I also said we will invest 1.4 billion rand (about 89 million U.S. dollars) in education and skills development across Africa over the next three years,"" Ramos also said in a statement.


""That commitment extends to the way we serve our customers. Nothing in today's announcements will make us deviate or change our course. We at Barclays Africa are neither exiting our operations in South Africa nor the rest of our African markets,"" she said.


The exit is one of the biggest withdrawals in South Africa since the 1980s. This is the second planned exit from Africa in 30 years, which will affect banks like Absa. In 2013 James Harden Womens Jersey , Barclays Africa was established as a leading African bank when 12 banks across the continent were brought together.


However, some experts blame South African President Jacob Zuma for the unceremoniously firing of Finance Minister Nhlanhla Nene last December.


On Monday morning, Barclays Africa shares took a knock on the Johannesburg Stock Exchange (JSE), losing as much as 6.8 percent.


Earlier on Tuesday Carmelo Anthony Womens Jersey , Absa Bank, Barclays Africa Group's South African sub. Cheap Jordan Retro Shoes Cheap Jordan Retro Cheap Air Jordan Air Jordan Shoes For Sale Air Jordan For Sale Air Jordan For Sale Air Jordan For Sale Cheap Jordan Shoes Cheap Jordan Shoes Wholesale Jerseys China