Digital money transfer provider SimbaPay has expanded its services to five new countries as diaspora banking kicks up.

Barclays PLC Chief Executive Jes Staley has decided to shut the bank’s operations in Africa, the Financial Times said on Friday, citing sources familiar with the matter.

In recent years, African governments have turned to Eurobonds as a way of funding deficiencies in their development budgets. Some of the countries include Kenya, Ivory Coast, Uganda, Zambia, Namibia, Gabon and Angola among others.

In a statement published on February 24, the African Development Bank (AfDB) said it would soon issue a $1 billion bond with a 3-years maturity period.