By the end of December 2017, London-based Barclays PLC had reduced its shareholding in our holding company Barclays Africa Group Limited to 14.9%, allowing us to make some exciting changes.

The first of these is the decision to change our holding company name from Barclays Africa Group Limited to Absa Group Limited, subject to approval from our regulators and shareholders.

This change is happening at a group level and you probably won’t notice any change at all, but it is important, because it is the first step in our journey to ultimately having one brand, Absa, across all our operations.

So let’s get ready for exciting new possibilities.

  • What is the Barclays sell-down?

    In 2008, after the global financial market crissis regulators implemented new rules to protect consumers , making it less attractive for international banking corporation sto own large banks abroad.

    Due to this Barclays PLC decided to reduce their shareholding in Barclays Africa Group.

    This means that barclays Barclays PLC is no longer a majority sharehoilder in Barclays Africa Group (becoming Absa Group Limited), giving barclays Africa Group a larger African ownership base , with a more diverse set of shareholders, creating more opportunities for everyone in Africa.

  • Who owns Absa now?

    Your bank has been part of the same group, Barclays Africa Group Limited (becoming Absa Group Limited), for a number of years and this wont change. Barclays Africa Group is also the holding comany for Barclays Bank in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, NBC in Tanzania and Absa in South Africa.

  • Why are you changing the Barclays brand?

    By the end of 2017 Barclays PLC had reduced its shareholding in Barclays Africa Group Limited from 62.3% to 14.9%. This means that although Barclays PLC remains a committed partner and shareholder, we cant legally use the name "Barclays" in the future. It was important for us to choose a name that already has strong equity in Africa and internationally, under which to unite all our operations. Thus we chose Absa.

  • Why did you decide on Absa as the new brand?

    We know how important a decision like this is and so, before coming to any conclusions, we consulted with over 130 000 colleagues, customers, stakeholders and regulators across the continent. The outcome of these discussions was twofold: we needed one brand to unite all our operations across Africa and, that it was important that this brand was already well established, well-known with strong African and international banking credentials. Thus we chose Absa.

  • Why not choose a complete new brand name?

    People in Africa have banked with us for generationsand and we want to build on the strong foundations that Barclays and Absa have laid in Africa over the past 100 years. we need a strong brand, one that is already recognised both in Africa and globally while reflecting our collective identity and ambition.The brand will be Absa pending regulatory and shareholder approval.

  • Why did you choose a single brand name for all operations in Africa?

    Barclays group Africa (becoming Absa Group Limited) is the holding company for operations across 10 countries in Africa, so it makes sense that all those operations are united under one brand. Importantly, one brand allows us to benefit from shared knowledge and expertise across the network.

  • Will the Absa brand that we know, change at all?

    Yes , this is an oppertunity to change for the better because, whilst Absa is an established brand we will continue to grow and evolve. so altough you can expect some exciting changes in the future, right now things will stay the same. And, if there are any planned changes, we will inform you well before the time.

  • Can I expect any other changes when the name of my bank changes?

    We will not make any new changes that will affect the way you bank with absa right now. However, as we are continually committed to making your banking experience  a better one, you can expect changes in the future. We will keep you informed of any changes that may affect you.

  • When will the new brand be launched?

    We have until mid 2018 to remove Barclays from all company material in South Africa and until mid 2020 to rebrand all our Barclays operations. But we're committed to progressing as quickly as possible and will keep you informed along the way.

  • Is Barclays PLC still involved in anyway?

    With 14.9% shareholding in Barclays AfricaGroup Limited, Barclays PLC is no longer the majority shareholder. However, they do still have a stake in the business and remain a partner committed to the success of the group.

  • You will need to invest significant resources in a rebranding exercise. Will I be paying for this?

    No. The cost of implementing and communicating this rebrand have been well planned and the cost for this change will not be passed on to you now or in the future.

  • What do I have to look forward to in the future?

    Barclays Group Limited (becoming Absa Group Limited) have a very ambitious strategy for the future. One that will see us becoming a digitally-led, customer focused African organisation with globally scalable platforms. Our aim is to ensure a culture of entrepreneurship, autonomy and ownership and to be an active force for good withinn the communities in which we operate.

Find out more

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08600 08600