The journey has been a dozen years in the making but Thursday brought confirmation that Barclays in Africa would be re-branded as Absa following shareholder and regulatory approval.
Today, we announce that we will rename Barclays Africa Group as Absa Group and will have one name across our operations in future, if regulators and shareholders approve. What does this mean for you? Find out here: https://t.co/W7XQb7fbZy #BarclaysAfricaJourney pic.twitter.com/l9ufJvlD0V
— Barclays Bank Kenya (@Barclays_Kenya) March 1, 2018
The official statement from Barclays Africa on the change notes that:
- A priority for Barclays Africa is to restore leading positions in core business areas, while expanding into new markets, enabling the group to deliver double-digit growth.
- The Group will expand its corporate and investment banking unit to certain international jurisdictions, with offices set to open in London and later in New York, trading as Absa Securities, and offering opportunities for our clients to financial markets offshore, and providing access to corporates and institutions seeking to invest in Africa.
Today, we announce that we will rename Barclays Africa Group as Absa Group and will have one name across our operations in future, if regulators and shareholders approve: https://t.co/vWVvrwqFxm #BarclaysAfricaJourney pic.twitter.com/00LfqFaNqY
— Absa (@Absa) March 1, 2018
Barclays is in twelve countries in Africa, including Ghana, Uganda, Zambia and Kenya and the re-brand is expected to be phased gradually.
— Kenyanwallstreet (@kenyanwalstreet) March 1, 2018