• Latest
  • Trending

Absa achieves substantial completion in three-year separation programme from Barclays

June 9, 2020
Supreme Court quashes order to reinstate Nii Tackie Adama Latse II; affirms King Tackie Teiko Tsuru II as rightful Ga Mantse

Supreme Court quashes order to reinstate Nii Tackie Adama Latse II; affirms King Tackie Teiko Tsuru II as rightful Ga Mantse

July 23, 2025
Six injured in Odumasi road collision; One in critical condition

Six injured in Odumasi road collision; One in critical condition

July 23, 2025
Wa AMASS Final-Year Student Hospitalized After Stabbing Incident on Campus

Wa AMASS Final-Year Student Hospitalized After Stabbing Incident on Campus

July 23, 2025
GES Confirms Full Payment of Capitation Grant Arrears owed to basic schools

GES confirms full payment of capitation grant arrears owed to basic schools

July 23, 2025
Minority to Government: Stop the “Fancy Stunts” and tackle Galamsey head-on

Minority to Government: Stop the “Fancy Stunts” and tackle Galamsey head-on

July 23, 2025
North Tongu: Korsive Residents Appeal to Okudjeto Ablakwa as Pupils Study Under Trees

North Tongu: Korsive residents appeal to Okudjeto Ablakwa as pupils study under trees

July 23, 2025
Akwatia NPP Supporters Rally Behind Ama Sey for By-Election

Akwatia NPP supporters rally behind Ama Sey for by-election

July 23, 2025
YFM ignites Mensah Sarbah Hall Week with the ‘Returnova’ experience

YFM ignites Mensah Sarbah Hall Week with the ‘Returnova’ experience

July 23, 2025
Madina MP Establishes Sanitary Pad Bank on schools

Madina MP Establishes Sanitary Pad Bank on schools

July 23, 2025
Over subscription to power generators contributed to high debts - Executive Director - CEMSE

Over subscription to power generators contributed to high debts – Executive Director – CEMSE

July 23, 2025
Education Minister Unveils €200M Infrastructure Proposal to Transform UENR

Education Minister unveils €200M infrastructure proposal to transform UENR

July 23, 2025
Blue Water Guards to Focus on De-chemicalisation of Polluted Rivers in Phase II – Armah-Kofi Buah

Blue Water Guards to Focus on De-chemicalisation of Polluted Rivers in Phase II – Armah-Kofi Buah

July 23, 2025
Happy Ghana
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home Sports

Absa achieves substantial completion in three-year separation programme from Barclays

in Sports
Share on FacebookShare on TwitterShare on Whatsapp

Absa Group, one of Africa’s largest financial services providers, is celebrating substantial completion of its separation programme from Barclays PLC, three years after the start.

The separation, one of the largest and most complex corporate programmes of its kind, followed Barclays PLC’s 2016 decision to reduce its shareholding in the African group to a minority position. Barclays became the majority shareholder in Absa in 2005 and the two groups subsequently integrated systems, processes and policies over time.

“We are closing an important chapter in the more-than-100-year history of the Absa Group as we wind up the last few elements of separation,” said Absa Group Chief Executive Daniel Mminele. “We emerge from this chapter as a proudly independent African bank, strengthened and enriched by our experience as part of the UK group. We have a great foundation to build on and full control to make the decisions that are in the best interest of our customers and other stakeholders across all the African markets we operate in.”

Barclays PLC contributed R12.6 billion (approximately $1 billion at the time) in 2017 towards the three-year separation programme, which comprised mainly IT and brand projects, and which commenced on 6 June 2017.

A total of 270 projects have been delivered as part of the separation programme, and all technical solutions have been built. Six projects will be concluded in the next few months, including three minor ‘mop-up’ activity projects.

The separation required the replacement or rebranding of millions of assets in 12 countries, including technology solutions. The programme involved, among others, the largest single data and system migration in Africa as customers in nine countries were switched to a new online banking platform, improving customer experience through greater stability and upgraded user interfaces in several countries.

Read also: You are being insensitive in the heat of Coronavirus – EC told

More than 1,000 branches, 10,000 ATMs, close to 16,000 email addresses, several million customer cards, as well as thousands of uniforms, signage, forms, buildings and stationery were rebranded. At its peak, nearly 1,300 employees and contractors were dedicated to the separation programme.

“The initiatives undertaken have fundamentally improved Absa’s resilience, systems and capabilities, benefitting both employees and customers alike,” said Mminele. “I have been extremely impressed with how diligently and disciplined the colleagues have carried out this mammoth of a project, unparalleled on the continent in terms of size and complexity. We take great pride in having substantially completed the separation from Barclays PLC within budget and inside agreed timelines.”

“The programme carried material risks, including potential large-scale banking system failures and customer attrition,” said Absa Engineering Services CE Paul O’Flaherty, who leads the separation programme “We worked closely with stakeholders including regulators across our presence markets to mitigate risk. We are proud to say that separation has been substantially completed in a safe and successful way.”

History of Absa Group’s association with Barclays PLC since 2005

2005Barclays PLC acquires 55.5% of Absa Group Ltd.
2013Most Barclays PLC businesses in Africa are combined with Absa Group Ltd to create Barclays Africa Group Ltd. The transaction increases Barclays PLC’s stake in Barclays Africa Group to 62.3%. 
2016Barclays PLC starts reducing its shareholding in Barclays Africa Group after changes in international regulations – subsequent to the 2008 global financial crisis – made it less attractive to own stakes in large banks abroad. 
2017Barclays PLC reduces its shareholding in Barclays Africa Group to a minority stake of 14.9% and separation commences. 
2018Barclays Africa Group is renamed Absa Group on 11 July 2018 and a refreshed brand is rolled out across South Africa. 
Feb 2020The rebranding of Barclays-branded banks as ‘Absa’ in Africa is completed.  
June 2020Absa achieves substantial separation from Barclays.

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Clifford Aboagye eyes maiden call up under CK Akunnor

Next Post

Consider me out of the league if it restarts amid COVID-19- Abdul Salam Yakubu

Next Post
New Edubiase to appeal MTN FA Cup ban

Consider me out of the league if it restarts amid COVID-19- Abdul Salam Yakubu

Search

No Result
View All Result

Listen Live

BBC Match of the Day Africa

Happy Ghana

Recent News

  • Supreme Court quashes order to reinstate Nii Tackie Adama Latse II; affirms King Tackie Teiko Tsuru II as rightful Ga Mantse
  • Six injured in Odumasi road collision; One in critical condition
  • Wa AMASS Final-Year Student Hospitalized After Stabbing Incident on Campus
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.