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Barclays Tanzania Re-Brands, Changes to Absa

02/11/2020 | 12:06pm

BARCLAYS Bank Tanzania, a subsidiary of Absa Group, officially changed to Absa Bank Tanzania on Monday after completing legal name change process.

Bank of Tanzania Deputy Governor, Dr Bernard Kibesse unveiled the Ohio branch of the bank in Dar es Salaam re-branded with maroon and red colour to replace Barclay's blue colour.

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.

"The Central Bank trusts Absa and that is why we gave you the licence to operate in the country in new name. Use this opportunity to build trust by being innovators of attractive products and services that will boost the economy of your customers," he said.

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, Abdi Mohamed, said there would be no changes to the details of customers' accounts or fee changes associated with the new name. Absa Bank branches in Tanzania would continue to operate as usual during normal working hours, he said.

Mr Mohamed said Barclays cards would continue to work as normal until their date of expiry where they will be replaced by new cards under Absa brand.

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 Tanzania and contributor to the economy.

The name change came after the parent company rebranded to Absa Group in 2018 from Barclays Africa Group after Barclays (PLC) sold most of its controlling stake in the group to focus on its home market and the United States in 2017.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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