Barclays Africa to change its name to Absa

By DAILY NEWS WRITER

BARCLAYS Africa Group Limited will be renamed Absa Group Limited and trade as Absa across its operations in Africa decision is subject to shareholders and regulators approvals.

“We will be Absa, not as you know it, but relaunched, represented and with identity fit for the new and forward looking business we are creating,” said Maria Ramos, Barclays Africa Group CEO.
The name change will be effective from 30 May 2018, the bank which operates in Tanzania said. “In South Africa we expect a modest improvement in real GDP growth to 1.4% in 2018,
with upside potential from fixed investment, a rebound in confidence and strong global growth, although fiscal consolidation remains a concern and there is downside risk for credit ratings. “We believe the South African Reserve Bank will keep interest rates on hold for some time,” CEO was quoted as saying.