Barclays Botswana completes transformation to Absa
Mbongeni Mguni | Monday February 10, 2020 15:11
The P17 billion deal under which the Absa Group acquired the African operations of Barclays Plc has gone through various key stages, with the rebranding exercise marking the final step.
Speaking at the official brand launch, Absa Bank Botswana managing director, Keabetswe Pheko-Moshagane said the occasion was a “new dawn” for the bank, which is the country’s second oldest.
She said in adopting the Absa name, the bank would leverage its African heritage to drive relevant initiatives that can further unlock and support the country’s growth.
Absa Bank Botswana is focussing on deepening its digital offering while remaining customer-centric by continuously innovating around banking solutions.
“We will continue to invest in digital platforms to offer more convenience as we work towards becoming a scalable digitally-led bank,” she said.
“Our promise is that we will come together with our customers to reflect on what matters most and give a voice to their hopes and aspirations.
“As we enter a new era, you can expect to see the energy and the vibrancy of the new Absa brand taking us to new levels.”
Yasmin Masithela, Absa Group managing executive for transactional banking, explained that the rebrand in Botswana was part of a continent wide programme due to be completed by mid-year.
The Absa Group is one of Africa's largest diversified financial services groups with interests in banking, insurance and wealth management.
Meanwhile, earlier this morning, Pheko-Moshagane led other executives in a bell ringing ceremony at the Botswana Stock Exchange where the bank’s counter was officially changed from Barclays to Absa Bank Botswana. Barclays was among the first companies to list on the Botswana Stock Exchange with its debut in June 1989.