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Barclays Africa Group Limited officially changed its name to Absa Group but will operate and operate under the name Barclays in Kenya for the time being
The change comes after Barclays PLC's sale of Barclays Africa as part of
The official change was announced by Twitter on Wednesday
On October 1, 2017, the organization moved seven of its branches to Kenya – Moi Avenue, Haile Salbadie, Waiyaki Road, Kawangware, Rahimtulla , Nakumatt Meru and Wundanyi Branch – to Reduce Costs
Barclays announced on March 1, 2016 that it intended, over a period of two to three years, to reduce its participation in Barclays Africa.
On May 5, 2016, Barclays PLC sold 103.6 million shares of Barclays Africa, reducing its stake to 50.1%.
Barclays PLC sold 187 million common shares in Barclays Africa Group in June 2017, representing approximately 22% of Barclays Africa The issued share capital of Barclays Africa reduces its holdings in Barclays Africa to less than 50 %
Barclays Africa operates in 12 countries with approximately 40,000 employees serving nearly 12 million customers.
Read: Barclays to announce the name change of Absa Group Ltd
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