Barclays Bank of Kenya will rebrand to Absa Kenya in 2020, and not anytime before.
The Group Deputy CEO Peter Matlare says that the transitioning period requires an “important process of communication and consultation not just with regulators but also with our customers and client so they understand the journey every step of the way.”
“We have put a plan to CBK to show them how this will be done, the timelines and how we will be derisking the entire process. We envisage this to happen in Kenya in 2020 and not before,” he added.
Mr Matlare was speaking to The Financial Standard, on the sidelines of World Economic Forum that took place in Davos.
Barclays Africa rebranded to Absa in 2018 after Britain’s Barclays announced departure from the African market.
Apart from Kenya, it has presence in South Africa, Botswana, Ghana, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia who have either fully rebranded to Absa, or are awaiting regulatory approvals.
