Bob Diamond, the former Barclays chief executive, has announced his first deal since he started an Africa-focused acquisition firm in December last year – with Rothschild the sole adviser on the deal.

The American banker announced on Monday evening that he is buying ABC Holdings, the Botswana-based parent company of a number of sub-Saharan Africa banks, and its Frankfurt-listed controlling shareholder ADC African Development Corporation, for up to $265 million in cash and Atlas Mara shares