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* Barclays Plc owns 62.3 pct stake in Barclays Africa
* Says reviewing strategic options for $8.3 bln stake
* Barclays Africa says no impact on operations
* Johannesburg-listed shares fall 5.5 pct (Recasts with shares, adds analysts)
By Tiisetso Motsoeneng
JOHANNESBURG, Feb 29 (Reuters) - Speculation that Barclays could be withdrawing from Africa after almost a centurythere sent shares in its business Barclays Africa Group tumbling on Monday.
The British bank said on Sunday its board was evaluatingstrategic options for its 62.3 percent stake in the Africanbusiness, a holding worth about $8.3 billion, and will givedetails about its plans on Tuesday.
Shares in Barclays Africa, which is based in South Africaand also operates in nine other countries, dropped 6.8 percenton Monday before recouping some losses to trade down 5.5 percentat 1440 GMT.
The review comes within months of Jes Staley taking over aschief executive of the British lender, at a time when it isrequired by regulators at home to hold more liquid assets toshore up defences against any future financial crises.
Once at the heart of executives' expansion plans, Africa'sgrowth prospects were dealt a blow in mid 2014 when prices ofoil and other commodities - export mainstays of many economies -dived, partly due to a slowdown in leading consumer China.
Staley's review also came after South African PresidentJacob Zuma decided to change his finance minister twice in lessthan a week in December, at a time when the economy is undersevere stress, raising questions about Pretoria's commitment toprudent fiscal policy.
While the African company accounted for 13 percent ofBarclays' core profit in the first nine months of 2015, itsearnings growth was the slowest among the British lender's mainbusinesses in that period.
Analysts and bankers said the share price drop was mainlydriven by investor expectations that any sale of such a largestake in Barclays Africa would be conducted at below marketprices.
"Barclays could not have picked the worse time to sell.Apart from the standard discount the sale of major stakes, theywill struggle to find buyers," said a Johannesburg-based banker,who declined to be named as he is not authorised to speakpublicly.
'YOUR MONEY IS SAFE'
Fund manager Korner Perspective director Graeme Korner saidthere was little appetite in the market for a major bankingtransaction also said finding a buyer for such a large stakewould be challenging.
"Unless there is a really powerful player that has a deepbalance sheet and can add strategic value to Barclays Africa itsnot in the interest of minority shareholders to see it passed onto somebody else," he said.
But another banker, who also spoke on condition ofanonymity, said Chinese banks might be best placed to do a dealbecause they had stronger balance sheets than their European orU.S. counterparts.
"But $8 billion is not a small change for anyone so there'sstronger likelihood that Barclays will sell down rather acomplete exit," he said.
Barclays Africa said any announcement by its parent wouldnot affect its operations, while its Kenyan division assured customers it would not be shutting down.
"I assure you that your money is safe with us and you shouldnot be concerned about the operation of your account," saidKenyan Managing Director Jeremy Awori.
Barclays has had a presence in Africa since 1925. BarclaysAfrica was created three years ago under a deal in which theBritish bank handed over ownership of its businesses in eightAfrican countries to its South African subsidiary in exchangefor a 62.3 percent stake in the new entity.
The company makes most of its profit and revenue in SouthAfrica and also operates in Kenya, Botswana, Ghana, Zambia,Mauritius, Mozambique, Seychelles, Uganda and Tanzania.
It had 36 billion pounds ($54 billion) of assets on arisk-adjusted basis and made a profit of 791 million pounds($1.1 billion) in the first nine months of 2015
Barclays also has small businesses in Egypt and Zimbabwewhich are not part of Barclays Africa; it tried to sell them toBarclays Africa after the 2013 deal, but talks fell through dueto disagreements about the price.
($1 = 0.7208 pounds)
(Additional reporting by Zandi Shabalala and Thekiso AnthonyLefifi; Editing by James Macharia and Pravin Char)
