Absa Bank Moçambique, formerly Barclays Bank Mozambique, opened its first branch in Maputo with the new branding and new colours on Monday, officially starting its banking operations under the new name.
With Absa Bank Moçambique branches becoming operational, customers of the former Barclays Bank will be able to use their cards at ATMs, their accounts, as well as to conduct banking operations and other transactions in a normal manner.
The name change is part of one of the largest and most ambitious branding projects in the history of the continent, a broader transition programme in several African countries by the Absa Group, said the bank’s managing director Rui Barros recently.
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 another in New York. (Macauhub)