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Absa celebrates substantial completion in Separation from Barclays

patriot by patriot
November 21, 2020
in Business
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Absa celebrates substantial completion in Separation from Barclays
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. Unites as a single brand across  African footprint.

. Achieves one of the biggest banking rebrands on the continent to date.

Absa Bank Botswana’s parent company, Absa Group Limited announced the substantial completion of critical projects on its Separation journey. Following Barclays PLC’s decision to sell down its controlling stake in Barclays Africa Group Limited in 2016 the bank was permitted to continue using the Barclays brand during the June 2017 to June 2020 transition period. The banking group marked the end of this component of the Separation journey on 5 June 2020 with the official name change to Absa in Botswana and across all Absa Group subsidiaries on the continent earlier this year.

“As a unified African brand, we have never been more ready to become a self-sufficient bank of the future,” says Keabetswe Pheko-Moshagane, MD of Absa Bank Botswana. “We are now able to own and control our processes and infrastructure, upgrading systems and propositions that better serve our customers in Botswana. What’s more, the initiatives undertaken have fundamentally improved Absa’s resilience and capabilities, benefitting both employees and customers alike.”

Comments Absa Regional Operations (ARO) Chief Executive, Peter Matlare, “This critical milestone, which was delivered on time and on budget, is so much more than just a name change. We now have an opportunity to create and sustain valuable partnerships that allow us, and our stakeholders, to thrive. However, considering recent events and the prevailing economic environment, as a near-term focus, our strategy has been adjusted to ensure we also prioritise capital preservation and remain liquid. Rebranding under Absa in 12 African countries has united us under a single brand, identity, purpose and strategy.”

Matlare states that going forward, the bank will continue to execute on its growth strategy; enhancing operational efficiencies and pushing digital boundaries, “As a modern, future forward African banking group, a key pillar in our strategy is finding scalable solutions and platforms that continue to meet the evolving needs of our customers. As the accelerated use of technology continues, investing in digital banking services will remain a key priority for us as a business.”SEE ALSO:

Adds Keabetswe, “We have a long legacy and have been an integral part of Botswana’s economic development. We will continue to drive relevant initiatives and partner in crucial growth sectors. We can now build on the ambitious strategy that we’ve created, and enhance our ability to lead the sector. We believe that this can be achieved by offering competitive products, excellent service and a truly African experience.”

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  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
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