Barclays Africa Group Limited has announced that it will to Absa Group Limited. Additionally, it intends to trade as Absa across its operations in Africa which are currently branded as Barclays.
This comes after UK’s Barclays PLC offloaded a large percentage of its majority share in Barclays Africa Group Limited.
Barclays Bank Kenya is one of the operations that will be affected by this new development. Kenyawallstreet.com reports that the name change to Absa in Kenya will take effect in May after the bank’s AGM. Other operations that will be affected include: Uganda, Ghana, Mauritius, Mozambique, Seychelles, Tanzania and Zambia.
The bank has operated in Kenya under the Barclays brand for over 100 years.