Barclays Africa Group won’t break up and sell off its assets after its biggest shareholder, Barclays, said that it plans to sell down its majority stake in the Africa business, the group’s chief executive, Maria Ramos, said in an interview on March 9.

Barclays boss Jes Staley said on March 1 the London-based lender would, in the course of the next two to three years, seek to sell a big chunk of its 62.3% share in BAGL to meet regulatory requirements about capital buffers in the UK where it is based. The bank will likely need to bring down its stake in BAGL to under 20%, meaning it will have to sell some $3 billion worth of BAGL shares.