4 December 2018

Ghana: Barclays Bank to Rebrand As Absa in 2020

Makhanda — BARCLAYS Bank logos in Ghana will give way to the Absa insignia in June 2020.

The Absa Group is taking the proud 100-year heritage that Barclays has established in Africa to build on it and find solutions to uniquely local challenges.

This was announced prior to the just-ended Highway Africa Conference held in Makhanda (formerly Grahamstown) in South Africa.

"The pace of change in Africa is accelerating and wherever you look across our continent you see it and it is a great place, in fact, one of the best places to do business in the world", said Marie Jamieson, Head of Marketing and Corporate Relations ABSA - Rest of Africa.

She told about 20 selected journalists from nine African countries including Ghana who had completed a Data Journalism Master Class at the Rhodes University that Absa's experience and capabilities meant that the group was inextricably part of that African development and its inherent opportunities.

"As Africa grows, our economies will expand and the aspirations of the youngest population on the planet will need to be met.

"We at Absa Group are determined to contribute to this trajectory and share in its success. We're optimistic about the outlook for Africa and we are ready to help our clients take advantage of the economic climate, as well as identify and capitalise on trade and investment opportunities that exist or are emerging in the region," she said.

She said "Our aspiration is to be an entrepreneurial, digitally-led African banking group with global scalability."

Ultimately, she insisted that the Absa Group was about growth, for Africa and its people.

The Absa Group Limited (previously Barclays Africa Group) is listed on the Johannesburg Stock Exchange and is one of Africa's largest diversified financial services groups with over 1, 100 branches and over 10, 000 ATMs across the continent.

It offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Currently, the group operates as Barclays in nine countries across Africa and as Absa Bank in South Africa.

The Group also has representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.

In December 2017, Barclays PLC reduced its shareholding in Barclays Africa Group Limited to 14.9% and, in doing so, gave Absa a unique opportunity to create a new enterprise: a banking group that Africa can be proud of.

The new journey began on 11 July 2018, when Barclays Africa Group Limited officially changed its name to Absa Group Limited.

About 120 journalists from 10 West, East and Southern African countries attended the two-day conference which ended on Friday under the theme Digital Citizenship: The Changing Relationship of the Media and Society.

The key focus was the impact of digital technologies (internet and mobile) on journalism and the media and by extension, society.

The event was supported by Absa, the Bill and Melinda Gates Foundation, OSISA, Action Aid, Sanlam, US Embassy, Harare, SAfm, OXFAM IBIS and MTN and other organisations in collaboration with the Rhodes University in Makhanda.

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