Absa has hinted it will tread carefully in rebranding Barclays Kenya, a process now embroiled in a court process.
Barclays Plc sold significant stake in Barclays Africa Group to South African Absa, setting the stage for a rebrand after change of name to Absa Group expected next month.
But in Kenya, the change could be complicated by local firm, Absa Kenya, moving to court seeking to bar the South Africans from using the name. Registered in 2005, it anticipates massive loses if Barclays changes to Absa.
On Monday, Barclays Africa officials told journalists that Barclays Kenya is free to decide on the process with a mid-2020 deadline.
“Each market will rebrand at own pace. Jeremy (Awori who is the Kenya CEO) and his team will determine when,” Zongezo Zibi, head of communication, Barclays Africa Group, said. Asked about the court hurdle, he said: “There will be a solution.”