Barclays Bank has so far spent over 71 million kwacha in its rebranding project.
Bank Managing Director Mizinga Melu reiterates the commercial Bank’s resolve to remain a member of the Absa Group as a minority shareholder.
“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.
Ms. Melu was speaking at a media breakfast announcing the rebranding from Barclays Banks to Absa Group in Lusaka yesterday.
She says Barclays Bank Zambia will rebrand to Absa Bank Zambia by opening a new branch branded as Absa at Kabulonga on Monday next week.
At the same event, Absa Bank Director for Change Enablement James Dowie says 25 Automated Teller Machines have been replaced so far and the Banking system has moved from the United Kingdom to South Africa.
“Over 70 million Kwacha has been spent for upgrading ATM cards in the last two years and it includes digital channels from the United Kingdom to South Africa” he indicated.
Absa Group Limited is 14.9 percent owned by Barclays Bank and is listed on the Johannesburg Stock Exchange.