Absa Launches UK Branch After Rebranding

CEO Maria Ramos during the Absa rebranding launch held at the Johannesburg Stock Exchange on July 11, 2018 in Sandton, South Africa. Barclays Africa changed its name back to Absa, in a rebranding aimed at underlining its South African roots as Britain’s Barclays gradually retreats from Africa, ending a 100-year history. (PICTURE Gallo Images / Sunday Times / Alon Skuy)

LONDON: Absa, which recently rebranded following its separation from Barclays, has announced the launch of its UK office.

The bank and financial services group described the move as part of a growth strategy as “investors and businesses look to an increasingly stable and prosperous Africa for an opportunity in a post-Brexit environment”.

Its goal is to help UK firms do business in Africa.

 “We have an ambitious growth strategy at the centre of which is the growth of our clients,” said Absa group CEO Maria Ramos in a statement. 

“Our UK office is an important component of our growth intentions and we are delighted to introduce it to our clients at this time,” she said. 

It said the office would focus on liquidity management, cash management, trade and working capital, risk management, card issuing, and investment banking.

In July this year, Absa ditched the name Barclays Africa to revert to Absa, after Barclays sold its controlling stake acquired in 2005.