Atlas Mara, the firm established by former Barclays chief executive Bob Diamond to invest in African banks, has posted its first profit as its management team eyes further acquisitions on the continent.

In its interim results for the six months to June 30, published on August 27, the company reported a net profit of $4.1 million. In its last interim results it had reported a loss from its inception in 2013 until the end of June 2014 of $17.3 million. It made a $63.1 million loss for the full-year 2014.