Barclays Africa Group Limited officially changed its name to Absa Group Limited Wednesday and said it will rename its Barclays Bank subsidiaries in Uganda, Botswana, Ghana, Kenya, Mauritius, Mozambique, Nigeria, Seychelles, Tanzania and Zambia within the next two years, subject to regulatory approvals.
The name change signals the start of a new era for the group as a standalone African Banking Group with deep roots on the continent and more than 100 years of existence in Africa’s banking sector.
Absa Group, which plans to open offices in the UK and US also Wednesday launched a new brand design as an expression of its new identity as a forward-looking bank in a digital era.
The group’s new business statement is helping to “bring your possibility to life”.
Adressing the press at the Bank’s head offices in Kampala on Wednesday, Rakesh Jha, the Barclays Bank Uganda Managing Director said the name change means a continuation of the products and services that customers currently use and the opportunity for the bank to do better for its customers and clients in the future.
“Barclays Bank Uganda will be renamed to Absa by June 2020, subject to regulatory and other approvals in Uganda. Right now, we will continue to trade under the Barclays brand in Uganda even though our parent name has changed to Absa Group Limited,” Jha said.
He noted that all Barclays ATMs, forms, branches, stationery, platforms and other assets across the 12 countries will be updated with the new Absa brand design before June 2022.
“While our parent name has changed today, our clients and customers can continue to bank with us as confidently as they always have. We are here to stay, working with all our stakeholders to grow a better Uganda,” he said.
He revealed that ‘Absa’ was chosen as the future brand after wide consultation with employees and stakeholders across the group’s operations over a period of about a year.
Absa, the name of the group’s South African subsidiary, has a pedigree as a strong and stable bank