UPDATE 1-Barclays Africa returns to its South African roots with Absa rebranding [Reuters (UK)]
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Source: Reuters
UPDATE 1-Barclays Africa returns to its South African roots with Absa rebranding | Reuters Reuters Staff 3 Min Read * Rebranding part of Barclays exit from Africa * Absa CEO charts new Africa-focused growth strategy (Adds CEO comment, details, background) By Nqobile Dludla JOHANNESBURG, July 11 (Reuters) - Barclays Africa changed its name back to Absa on Wednesday, in a rebranding aimed at underlining its South African roots as Britain’s Barclays gradually retreats from the continent. The name change comes almost a year after Barclays sold most of its controlling stake in Absa, South Africa’s third-largest lender, ending more than a century of the British bank’s involvement in Africa to focus on its home market and the United States. Currently Absa is the brand name for the group’s retail banks in South Africa but in future all of the group’s operations across Africa will use that brand name. “Today we celebrate an important milestone in our pursuit of our vision to create a banking g
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