Barclays Africa Group Relaunches as Absa Group with a Fresh New Look
Barclays Africa Group Limited has officially been renamed Absa Group Limited and started trading under its new name and new share code (ABG) on the Johannesburg Stock Exchange today. The name change marks the start of a new era for the group as a standalone African group with a new brand design fit for a forward-looking business in a digital age.
No longer just a South African brand, the new Absa Group has a presence in 12 African countries and plans to open international offices in the UK and the US.
“Our new name and brand are an expression of our new purpose and strategic direction, which commits us to growing in Africa,” Absa Group Limited Chief Executive Officer Maria Ramos said. “We are rallying around a shared sense of purpose and identity while celebrating our diversity,” she said.
New Absa, same security. We have a new look and a new way of getting things done – with #Africanacity. But we haven’t changed our security standards or practices, so you have nothing to worry about. Find out more: https://t.co/ysTKlWkEmU
— Absa South Africa (@AbsaSouthAfrica) July 11, 2018
Hello Mzansi. Meet the new us, and our new logo. We have a new look and a new purpose. Inspired by Africa and by you. Get the full picture here: https://t.co/aU951m0Knz pic.twitter.com/GDwygB007f
— Absa South Africa (@AbsaSouthAfrica) July 11, 2018
We see ourselves as fundamental enablers: helping individuals, colleagues, small businesses, local communities and society at large to grow. This is why we’ve defined our purpose as bringing your possibility to life. Find out more: https://t.co/aU951m0Knz
— Absa South Africa (@AbsaSouthAfrica) July 11, 2018
When the time came to re-imagine a new Absa, we looked to the people of Africa for inspiration. It’s through their creativity, ingenuity and audacity that they get things done. We call this #Africanacity. Meet the new us – an Absa inspired by Africa: https://t.co/aU951m0Knz pic.twitter.com/RgcmWuswK0
— Absa South Africa (@AbsaSouthAfrica) July 11, 2018
You’ll notice that our Twitter handle is now @AbsaSouthAfrica, and our parent company is @Absa, a financial services group across ten countries.
— Absa South Africa (@AbsaSouthAfrica) July 11, 2018
The rollout of the new Absa brand design in South Africa will be completed in 2019. The new Absa brand will also be rolled out to Absa Group’s Barclays banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia by mid-2020, subject to approvals including from regulators in those countries. Product and service functionality will not be affected by the rebranding programme.
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In renaming Barclays banks across the continent, the group will be able to build on the pedigree of the Absa brand as a strong and stable bank. The brand has substantial equity – Absa was named the fourth most valuable brand (with an estimated value of R18.9 billion, or about US$1.5 billion) in South Africa by global brand valuation and strategy consultancy Brand Finance this year.
“We would like to build the brand as a bank that Africa’s people can be proud of, a truly independent African bank with global scalability,” said Ramos. “A single brand will enable us to unite behind a single identity, purpose and strategy; we are excited by the enormous opportunity we have to create a bank that Africa can be proud of.”
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