Barclays Bank Uganda is no more! The company has rebranded to Absa Bank Uganda and will, with effect from November 11th 2019, take on a new logo, new colour scheme, and a new slogan. The rebrand process has been a long one, having started mid 2018, after the official announcement.
The change is already visible in various branches of the bank. However, the functionality of Absa bank or Barclays bank products and services in Uganda have not changed, and thus remain the same.
We are here. We are open. We are Absa. Welcome to the bank that helps you find a way to get things done. pic.twitter.com/4IWNBC6fxH
— Absa Bank Uganda (@AbsaUganda) November 10, 2019
The new name was registered by South Africa’s Companies and Intellectual Property Commission; and the name change took effect on 11 July 2018, with the group’s share code on the Johannesburg Stock Exchange (JSE) changing from BGA to ABG.
Barclays-branded banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia have continued to trade as ‘Barclays’, as they slowly get rebranded, subject to regulatory approvals in those markets.
The Journey to Absa Bank Uganda
Barclays Africa Group Ltd shareholders in May last year approved that the group changes its name to Absa Group Limited. This would turn out to be one of the largest re-brand projects on the continent, with the company adopting a complete new look, changed logo and brand new colour scheme.
Following the sell-down by Barclays PLC of its majority shareholding in Barclays Africa Group to a minority position in 2017, the two companies parted ways. As part of the separation agreement, Barclays Africa Group ceased using the Barclays brand in Africa and expects completion of the rebrand by the end of 2020.
While Barclays is no longer part of the Absa brand, it remains a partner in the group, and still has a 14.9% shareholding in the company.