After investors chastised the performance of Atlas Mara Ltd., the pan-African bank founded by former Barclays Plc Chief Executive Officer Robert Diamond began a $10 million share-buyback program on Nov. 3. So far, it’s not working. The stock has fallen 14 percent to $4.75 since that day, even after Atlas spent $3.9 million repurchasing shares, according to company filings.

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