Barclays Bank of Kenya on Thursday announced plans to completely change its name to Absa Kenya beginning June 2018.
The rebranding venture, the Bank conveyed, was part of the deal that saw UK-based Barclays PLC sell Barclays Africa Group Limited (BAGL) to South African Absa Group.
"A special resolution to this effect will be included in the notice of annual general meeting (AGM) to be issued to shareholders of Barclays Africa Group on 29 March 2018 for the meeting on 15 May 2018," a statement from the Bank explained.
The Bank further explained that the name change will affect its branches across Africa.
[caption caption="File image of the Barclays Bank branch at Queensway House, Nairobi"]
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Absa Group owns a majority of stakes of the Banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, and Tanzania (Barclays Bank Tanzania and National Bank of Commerce).
"Today (Thursday), we announce that we will rename Barclays Africa Group as Absa Group and will have one name across our operations in future if regulators and shareholders approve," the Bank posted on its official Twitter handle.
BAGL CEO Maria Ramos assured the Bank's employees and stakeholders that the changes being effected by the Barclays group would create greater opportunities for the Bank.
"This is the most important change we have ever embarked on and the most important opportunity for us to seize our destiny.
"We are creating a proud and forward-looking African business rooted in Africa and recognising our African heritage," she stated.
Social media users raised questions over what the name change would mean for the Kenyan outfit to which Barclays responded: "While our holding company is changing its name, our Barclays Banks (including Barclays Kenya) will not be changing in the immediate future. We have until 2020 and will choose the most appropriate time."
[caption caption="Absa Logo"]
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Other netizens encourage the bank to consider agency banking as part of its new brand to keep up with the growing trend among its peers.
