Absa bank has launched its first digital branch moments after it had just been granted a banking license to operate in the country.
Located at Jubilee Insurance Building along Parliamentary Avenue, the branch will offer 24/7customers greater convenience through self-service at automated digital platforms.
The branch was launched by the Executive Director Supervision in Bank of Uganda, Dr. Twinemanzi Tumubweine and Absa Bank Uganda’s Managing Director, Nazim Mahmood.
“Absa has launched with a bang because within a space of 4 days, you have managed to show your commitment to Ugandans by opening a digital branch that is open 24/7” Twinemanzi said
He congratulated the bank for complying with bank of Uganda directives and procedures acquiring operating license.
Absa Uganda Managing Director, Nazim Mahmood applauded central bank for all the support they have rendered to us for the last two and a half years, “We couldn’t have managed to achieve all of this without your support” he added
“The concept of a digital branch is based on the principle of convenience. This branch is going to be open 24 hours a day, 7 days a week.” Mahmood said
Absa rebranded after the sell-down by Barclays PLC of its majority shareholding in Barclays Africa Group to a minority position.
In May this year, shareholders of Barclays Africa Group Ltd gave approval for the entity’s name to be changed to Absa Group Limited in July, setting in motion the start of one of the largest rebrand projects in Africa at this time.
As part of the separation agreement, Barclays Africa Group, will cease using the Barclays brand in Africa in 2020.
The group’s Barclays-branded banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda and Zambia, has continued to trade as ‘Barclays’ even after the group name changed to Absa in July.
The Barclays-branded banks in these countries rebranded at a later stage, subject to regulatory approvals in those markets.