BARCLAYS OFFICIALLY SWITCHES NAME TO ABSA BANK TANZANIA

Deputy Governor of Bank of Tanzania, Dr. Bernard Kibesse, (second left), and Absa Bank Tanzania Limited Board Chairman, Simon Mponji (right), cut a tape to officially signal the launch of Absa Bank Tanzania, formerly known as Barclays Bank Tanzania. Others from left are Managing Director of Business Registration and Licensing Agency (BRELA), Godfrey Nyaisa, Managing Director of Absa Bank Tanzania, Abdi Mohamed, and Executive Director of Tanzania Bankers Association (TBA), Tuse Joune.

Absa Bank Tanzania Limited Board Chairman, Simon Mponji, receives a certificate authenticating name change to Absa Bank Tanzania (formerly Barclays Bank Tanzania Limited) from Managing Director of Business Registration and Licensing Agency (BRELA), Godfrey Nyaisa (second left), yesterday during the launching ceremony at the bank’s head office in Dar es Salaam. Witnessing the event are Managing Director of Absa Tanzania Limited, Abdi Mohamed, Deputy Governor of Bank of Tanzania Dr. Bernard Kibesse (second right).

Deputy Governor of Bank of Tanzania, Dr. Bernard Kibesse, speaks during the launch of Absa Bank Tanzania Limited, formerly known as Barclays Bank Tanzania. Others from left are Absa Bank Tanzania Limited Board Chairman, Simon Mponji, Managing Director of Absa Bank Tanzania, Abdi Mohamed, and the Bank’s Head of Legal and Compliance, Irene Sengati.

Absa Bank Tanzania Limited Managing Director, Abdi Mohamed, speaks during the official launch of the bank which was formerly known as Barclays Bank Tanzania.

Absa Bank Tanzania Limited staff take a walk to beacon the official launch of the bank, which was formerly known as Barclays Bank Tanzania.

Absa Bank Tanzania Limited, a subsidiary of Absa Group Limited, yesterday received the licence to operate and trade under its new name from the Bank of Tanzania, switching from its former name of Barclays Bank Tanzania Limited, a makeover that marks the start of a new era for the bank’s operations and signals the realization of its ambition of becoming an independent African Bank.

“Today we begin a new chapter as Absa Bank Tanzania Limited, adopting out parent company’s name and brand while retaining our indelible commitment to Tanzania and its people. Our new brand is a commitment to Tanzania and to the wider continent: Absa is a truly African bank, with global scalability and reach, Said Abdi Mohamed, Managing Director of Absa Tanzania Limited.

The company, which has been operating in Tanzania close to 19 years and boasts a network of 15 branches and 62 ATMs strategically located countrywide 21 being in branches and 49 offsite, recapped its devotion to the country’s growth and economic progress under the Absa brand.

“We have invested in crucial sectors of development of the national economy, including trade, agriculture, SMEs, infrastructure and investments. We will continue to play a critical role by investing in these sectors without neglecting the ordinary citizens who seeks quality financial services and safe investment for their hard-earned money,” said Abdi Mohamed.

Speaking at the event, Deputy Governor of Bank of Tanzania, Dr. Bernard Kibesse, while congratulating Absa Tanzania for showing a spirit of patriotism and tolerance during the change-over, noting it indicated the bank’s readiness to invest in Tanzania, improve services and increase customer base, nevertheless stressed the fact that the central bank had trust in Absa and that is why it had issued the license to trade under the new name.

“I call on Absa to use this opportunity to consolidate its corporate integrity embracing innovation and come up with services and products that are attractive and will boost the economic well-being of both your small and big customers,” said Dr. Kibesse, speaking on behalf of BOT Governor.

Tanzania was among seven countries in Africa to switch to Absa yesterday, marking an important milestone for the group, which has footprint in 12 countries, employs approximately 40,000 employees, operates over 100- branches and 10,000 ATMs.

Absa Tanzania Board Chairman, Simon Mponji, said: “We shall remain focused to see to it that the rebranding journey that we have embarked on so far contributes to enabling Tanzania reach its ambitions goal of becoming a middle income industrial economy.”