Barclays Bank Botswana expects a seamless change of brand from the iconic UK banking group to Absa in 2020, after research showed Batswana had no major hiccups with the transformation.
Barclays is reducing its interests in Africa through the sale of its stake in the Barclays Africa Group holding company to Absa, the well-established South African banking chain. Barclays’ assets across the continent are in various stages of transforming into Absa as a part of the move. Executives writing in Barclays Bank Botswana’s latest Annual Report said research had shown the brand roll-over in Botswana would be smooth. The rebranding is scheduled to be complete in Botswana in June 2020.
“Our research has shown that Batswana are familiar with the Absa brand,” the bank’s chair, Oduetse Motshidisi said.
“Absa’s support for various sporting leagues makes its brand highly visible on the sub-continent, and Botswana’s proximity to South Africa means that Batswana visiting across the border are invariably aware of the Absa brand and also use the bank’s facilities.”
Barclays Bank Botswana CEO, Reinette van der Merwe said engagements with customers on the brand roll-over had
“In fact, half of the people we engaged with have responded positively to the rebranding, in particular younger people. “We also observed that older generation, predictably, feel more connected with the Barclays Bank name.”
She added: “We believe that the public, especially our customers, will embrace our brand and name change. While we can expect exciting changes in the future, we will still offer the same leading products and services, delivered by the same dedicated employees across our branch network.”
The Barclays African Group holds approximately 67% shares in the local Barclays subsidiary, which, meanwhile, is the country’s second largest bank in terms of balance sheet, footprint and market capitalisation.