BARCLAYS-ABSA

Barclays Africa Changes Name To Absa

Do you save/bank with Barclays? Well here is some info for you.

Barclays Africa Group Limited has officially changed its name to Absa Group Limited. For the mean time, the bank will still continue to operate and trade as Barclays in Ghana.

Within the next two years, the bank’s re-branding process will go on across their African markets, including: Ghana, Botswana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia. (subject to regulatory and other approvals).

 

BARCLAYS-ABSA

In statement via the company’s website, the reason for the name change is as a result of the fact that:

”By the end of 2017 Barclays PLC had reduced its shareholding in Barclays Africa Group Limited
(now Absa Group Limited) from 62.3% to 14.9%.

This means that, although Barclays PLC remains a partner and shareholder,
[they} can’t legally use the name “Barclays” after 2020.”

 

 

Absa Group Limited is apparently ready for a big and new beginning as they plan on opening offices in the UK and US. Absa Group has a presence in 12 countries in Africa, with approximately 42 000 employees.

 

 

In other related news, Barclays Bank Ghana recently announced the appointment of Mrs Abena Osei-Poku as Managing Director of the bank. The boss lady takes over from Patience Akyianu who will be leaving the bank at the end of September 2018.

 

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