Absa Bank Zambia PLC, a subsidiary of Absa Group Limited and which is formerly known as Barclays Bank Zambia PLC, has today received the license to operate and trade under its new name from the Bank of Zambia. The name change marks the start of a new era for the bank’s operations, one that sees the realisation of an ambition to become an independent African bank.
“Today we begin a new chapter as Absa Bank Zambia PLC adopting our parent company’s name and brand while retaining our indelible commitment to Zambia and its people. Our new brand is a commitment to Zambia and to the wider continent: Absa is a truly African bank, with global scalability and reach,” said Mizinga Melu, Managing Director of Absa Bank Zambia PLC.
The company, which has been operating in Zambia for over 100 years, reiterated its commitment to the country’s growth and economic development under the Absa brand.
“We have invested in crucial sectors of development of the national economy, including Mining, Energy, Agriculture, Public Sector, Oil & Gas, Manufacturing, Telecoms, Financial Services, Wholesale and Trading. We will continue to play a critical role by investing in these sectors without neglecting the ordinary citizen who seeks quality financial services and safe investments for their hard-earned money,” said Mizinga Melu.
For customers, there will be no change to their account details and there will no fee changes associated with the name change. The Bank’s branches will continue to operate as usual.
From 10 February 2020, all new cards and cheque books will be issued under the Absa brand. Barclays branded cards will continue to work as normal until their date of expiry. Customers can continue to use their Barclays branded cheque books until 31 August 2020. Thereafter, only cheques drawn on from an Absa branded cheque book will be accepted.
Customers are urged to be particularly vigilant during this time, as fraudsters are always looking for opportunities to obtain important personal information.
Mizinga Melu reaffirmed that the Bank would remain a significant player in the banking and financial services sector in Zambia and a contributor to the country’s economy.
“As Absa, our ambition is to become a digitally-led bank that is centred around the ever-changing needs of customers. We believe we have a role to play and intend to leverage digital technology to expand reach and access of financial services but also provide affordable services,” Mizinga Melu said.