Barclays Bank Moçambique will change its name to Absa Bank Moçambique, from 11 November, the bank’s managing director Rui Barros announced on Wednesday in Maputo.
The name change is part of one of the largest and most ambitious branding projects in the history of the continent, a more comprehensive transition programme in several African countries by the Absa group, said the managing director.
The move follows a decision taken in 2018 by the parent company, the Absa Group, and the process of restructuring Barclays branches across the country with the colours representing the new brand is currently underway.
The group is listed on the Johannesburg, South Africa Stock Exchange, has a balance sheet with total assets of over US$91 billion and is one of Africa’s largest financial services groups, offering an integrated set of banking products and services, for retail and business, investment, asset management and insurance.
Absa Group Limited, formerly Barclays Africa Group Limited and initially Amalgamated Banks of South Africa, is present in 12 African countries, has a representative office in London and is about to open in New York. (Macauhub)