23 November 2012

Namibia: Absa Re-Aligns Namibian Operations, Affects Five

Windhoek — Absa is realigning its Namibian operations to concentrate on the sales and service elements of its corporate office in the country. However, the re-alignment would affect five of its employees in Windhoek.

"A total of five local employees will be impacted while we increase the roles in the sales function, and make other internal changes in resourcing. However, measures have been put in place for the impacted colleagues to consider other opportunities within the group. Absa will continue to put every effort in ensuring the best outcomes for colleagues in every situation," the company said in a statement this week.

The re-alignment will see a new operating model being implemented effective from January next year, which will result in a change in resourcing needs as the bank concentrates on the sales and service elements of the Absa strategy.

"The re-alignment of our operating model will benefit our existing and prospective customers and clients in Namibia. The changes we have announced today are aimed at increasing our capacity to serve them with agility and the level of excellence that they have known for some time now," the company announced.

Absa and the main shareholder, the United Kingdom's Barclays, announced a fortnight ago that they have put off plans to acquire shares in Bank Windhoek. "Given that the potential acquisition in Namibia has now been postponed, it has been decided to realign the business with the wider operating model associated with the Africa strategy," Absa said in the statement.

The re-alignment will create more roles within the sales function and allow Absa Namibia to focus on servicing the Namibian corporate market, with support from Absa's Corporate Investment Bank & Wealth (CIBW) office in Johannesburg.

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