Barclays Bank Uganda has announced that it has started rebranding and transitioning into Absa Uganda. After it's parent firm sold majority interest to Absa – which stands for Amalgamated banks of South Africa in 2017, Barclays Africa Group has to let go of the name that it has used in Africa for more than 100 years.
While addressing media at Barclays Uganda head offices, managing director Nazim Mahmood said that the move is in line with its parent company Absa group's decision tabled in 2018 to rebrand all operations across the continent to Absa.
The bank will still be known as Barclays until the entire process is officially concluded with legal and regulatory milestones to achieve before a final announcement, he said.
“We have decided to start with rebranding physical assets such as bank branches and ATMs across the country to ensure we are fully ready for legal name change. Lugogo branch will be the first to start the renovation and it will take about six weeks. Uganda will start to see Absa logo and fresh vibrant red colour pallets introduced across Barclays branches." Mahmood said.
“All customers services will continue as before throughout the brand name change process and customers will not be required to do anything during this period,” he said.
The bank will not ask customers for any additional information during this period, and all bank records will remain the same before and after the transition, Mahmood added.
“We have a long history of serving Uganda and our legacy will serve us well for the future, this is a new and exciting chapter in the bank’s history and one in which our African and Uganda n roots will flourish,” Mahmoud said.