|End-of-day quote - 07/11|
Barclays Tanzania Re-Brands, Changes to Absa
|02/11/2020 | 12:06pm|
BARCLAYS Bank Tanzania, a subsidiary of
The colourful event was presided with fireworks and fanfare and later on, Dr Kibesse, handed the management of the bank a new licence to operate and trade under the new name.
Dr Kibesse said the new branding should help to bring about transformation in the banking sector by enhancing efficiency in service provision.
He challenged the bank to focus on agriculture to boost investments in the sector that employs about two third of 58 million Tanzanians.
The Managing Director of Absa Bank Tanzania,
New cards and cheque books to be issued from yesterday would be under Absa brand, he said adding both Barclays and Absa cards would continue to work in ATMs, point of sale (POS) terminals and online as usual.
"For customers, there will be no change to their account details and there will be no fee changes associated with the name change. The bank branches will continue to operate as usual." From Yesterday, all new cards and cheque books will be issued under Absa brand. Barclays branded cards will continue to work as normal until their date of expiry," he said.
The Managing Director said the name change marked the start of the new era for the bank's operations which will see realization of the ambition to become an independent African bank.
He said the bank would remain a significant player in the banking and financial service sector in
The name change came after the parent company rebranded to
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