ZAMBIA – Barclays Bank Zambia PLC has announced its preparations to rebrand to Absa Bank Zambia by starting to open a new branch branded as Absa at Kubulonga, reports Zambian Business Times.
Barclays Bank Managing Director Mizinga Melu has stated that despite the changes that the bank is undertaking, it will continue to operate and trade as Barclays Bank Zambia until its name officially changes by Mid 2020.
Mizinga said the Bank is already in talks with customers across the country who she said have been supportive and that through this transition, customers will not be required to change their bank accounts or change any information as all records will remain the same before and after the transition.
She added that Absa is in Zambia to stay and has assured its employees that no job losses will be recorded when the bank transitions to Absa.
“In 2018, our parent company Absa group announced a decision to rebrand all our operations across the continent to Absa. While Barclays Plc continues to have a notable stake in Absa group at 14.9% stake, it is no longer our majority shareholder and the group has undergone an extensive managed separation process to detach its operations in Africa from those of Barclays Plc,” she said.
Barclays Retail Managing Director Harton Maliki disclosed that the bank has so far rolled out 25 new branded ATM’s which are now operating as Absa and that they have better capabilities with focus to have latest technology.
Barclays Africa Group Limited has officially been renamed Absa Group Limited and started trading under its new name and new share code. The name change marks the start of a new era for the group as a standalone African group with a new brand design fit for a forward-looking business in a digital age.
“Our new name and brand are an expression of our new purpose and strategic direction, which commits us to growing in Africa,” Absa Group Limited Chief Executive Officer, Maria Ramos said. “We are rallying around a shared sense of purpose and identity while celebrating our diversity,” she said.
Absa Group has a presence in 12 African countries and plans to open international offices in the UK and the US.