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Tag: Barclays Bank Uganda

  • Barclays Bank of Uganda Limited officially becomes Absa Bank Uganda Limited

    Barclays Bank of Uganda Limited officially becomes Absa Bank Uganda Limited

    • Barclays Bank of Uganda Limited completes legal name change to Absa Bank Uganda Limited
    • Company fully rebrands and adopts Absa name across Uganda
    • Absa Bank Uganda Limited is part of Absa Group Limited, a proudly African banking group with a presence across 12 countries and an international office in London
    Kampala: Absa Bank Uganda, a subsidiary of Absa Group Limited has today received the license to operate and trade under its new name from Bank of Uganda. Formerly known as Barclays Bank Uganda, 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.

    The license was officially handed over to the bank’s Managing Director, Nazim Mahmood by Prof. Emmanuel Mutebile, Governor, Bank of Uganda at the Central Bank head office.

    “Today we begin a new chapter as Absa Bank Uganda Limited, adopting our parent company’s name and brand while retaining our indelible commitment to Uganda and its people. Our new brand is a commitment to Uganda and to the wider continent: Absa is a truly African bank, with global scalability and reach,” said Nazim Mahmood, Managing Director of Absa Bank Uganda Limited.

    The company, which has been operating in Uganda for close 92years, 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 trade, agriculture, SMEs, infrastructure and investments. 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 Mahmood.

    The Governor commended Absa Bank Uganda for contributing to the growth of the banking sector in the past and urged them to continue to deliver quality and affordable financial services.

    “Key to our agenda is the provision of affordable financial services to Ugandans especially the rural population, who remain unbanked and therefore financially excluded. We are keen to see continuity with Absa in provision of quality financial services and drive the private sector development agenda,” Prof.Mutebile said.

    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 11 November 2019, all new cards and cheque books will be issued under the Absa brand. Barclays’ cards will continue to work as normal until their date of expiry. Customers can continue to use their Barclays’ cheque books until April 2020. After that date only cheques drawn on from an Absa 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.

    Mahmood reaffirmed that the bank would remain a significant player in the banking and financial services sector in Uganda and a contributor to Uganda’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.” he said.

    As part of the bank’s financial inclusion agenda, the bank announced that it now had a network of 450 active agents spread across the country offering agency banking services and a high volume of transactions totalling to 248,000 this year alone.

  • Absa drives Uganda Golf Open with sponsorship worth Shs.50million

    Absa drives Uganda Golf Open with sponsorship worth Shs.50million

    Kigo:  Absa, parent company to Barclays Bank Uganda, today flagged off the Uganda Golf Open with a sponsorship package of 50 million shillings.

    The Open, to be held at the Lake Victoria Serena Golf Resort & Spa over the next four days, has attracted players from over 14 countries including Cameroon, Zambia, Zimbabwe, India and others.

    With players teeing off as early as 8 am, the beautiful scenery of Lake Victoria made for an amazing experience for all those present throughout the day.

    The players and well-wishers were thereafter hosted to a cocktail evening, with lots of bites and drinks accompanied by the soothing sounds of guitar and sax duo Omega Peter and Michael Kitanda. 

    Speaking at the Awards ceremony, Barclays Uganda Executive Director Steven Odongo Opio, said, “It gives us great pleasure as a brand to make a contribution towards the growth of golf as a sport, in addition to the development of the players in this country.”

    On top of the sponsorship, Absa will additionally award the best Amateur players in the Pro-Am competition with ten (10) tickets to the prestigious Magical Kenya Open, to be held on March 2020.

  • Barclays Bank Uganda awards 25 students with scholarships worth UGX 365m

    Barclays Bank Uganda awards 25 students with scholarships worth UGX 365m

    Barclays Bank Uganda has awarded 25 exceptional university students from 14 universities all over Uganda with full scholarships and laptops in a ceremony held on the 28th of August at the Makerere University Senate Building Conference Center.

    The group of 25 make up the Second Cohort of students to be awarded the scholarships, which cover full tuition, accommodation, meals and data allowances for their entire stay at university, as long as their stellar academic performances are maintained.  

    Speaking at the scholarship award ceremony, Nazim Mahmood, Interim Managing Director of Barclays Uganda said, “There is a need to provide the youth with appropriate skills, training and quality education. It is our responsibility as a significant economic player to ensure that substantial resources are used to build a more prosperous continent for the next generation.”

    The awards ceremony was followed by an engaging panel discussion on career growth, moderated by business guru Innocent Nahabwe. Other panellists included Chief Guest Prof. William Bazeyo – Deputy Vice Chancellor Finance and Admin,Barclays Uganda’s Chief Financial Officer and Executive DirectorMichael Segwaya, Edna Kanabahita – Barclays Uganda’s Chief Risk Officer, Manuela Pacutho Mulondo – CEO and Founder of The Cradle, Charlyn Kentaro – Founder and CEO Kentaro Handmade Organics and Ariho Kamara – Co-founder and Group CEO Nomad Advertising Limited.

    The Chief Guest, Prof. Bazeyo, urged university students to always strive to read more than they are given by lecturers.

    After the discussion, the award recipients and other attendees were given the opportunity to ask the panellists questions, which made for a great discussion.

  • Barclays Uganda begins transition to Absa

    Barclays Uganda begins transition to Absa

    Kampala: Barclays Bank Uganda today announced the beginning of its transition to Absa Uganda a process that will be completed over the next few months. This is in line with its parent company Absa Group’s 2018 decision to rebrand all operations across the continent to Absa.

    The company will still be known as Barclays Bank Uganda until the process is officially concluded, with several legal and regulatory milestones to achieve before a final official name change date can be announced. The bank will announce this date in due course.

    Recognising the significant size of the task ahead, we have decided to begin rebranding physical assets, such as bank branches and ATMs, across the country, to ensure we are fully ready by the time our legal name changes.

    Ugandans will start to see the Absa logo and fresh, vibrant red colour palette introduced across Barclays Uganda branches, ATMs and some other assets over the next few months, in a carefully managed programme that involves ongoing engagement with the relevant regulatory authorities. Some people may have already seen marketing and advertising for the Absa Group.

    The name change in Uganda is part of a broader, multi-country rebrand programme, scheduled to be completed by mid-2020. The bank is well on track to complete the process ahead of this deadline.

    All customer services will continue as before throughout the brand change process, and customers will not be required to do anything during this period. Barclays Uganda will not ask any customer for additional information during this period, and all bank records will remain the same before and after the transition.

    “We have a long history of serving Uganda and our legacy will serve us well for the future. This is a new and exciting chapter in the bank’s history, and one in which our African and Ugandan roots will flourish,” said Nazim Mahmood Interim Managing Director of Barclays Bank Uganda.

    “As we enter a new era in the bank’s history, you can expect to see the energy and the vibrancy of the new Absa brand taking us to new levels. As an organisation, Absa believes in bringing your possibility to life. We are here to fulfil the ambitions of our customers and communities, and we look forward to continuing to build strong partnerships to make this a reality,” said Managing Director name.

    Absa Group Reports 3% Increase in Earnings, Bolstered by Improved SA Retail and Business Banking Unit Performance

    *Key financial highlights for the first half of 2019:

    Headline earnings increased 3% to R8.3 billion

    Revenue increased 6% to R39.1 billion

    Operating expenses increased 6% to R22.1 billion

    Return on equity declined to 16.4% from 17.1%

    Dividend increased 3% to R5.05 per share

    Absa Group Limited, one of Africa’s largest financial services providers and parent company of BarclaysUganda reported a 3% increase in earnings for the first half of 2019 as its retail unit in South Africa gained market share, mitigating the negative effects of a difficult economy.

    Absa Group, which has a presence in 12 countries in Africa and an office in London, said normalised headline earnings increased to R8.3 billion during the first six months of the year from R8.04 billion during the same period in 2018. Income and costs both grew at 6%. Normalised earnings are considered the best measure of underlying group performance as it strips out the distorting effect of items related to the separation from Barclays PLC.

    “Despite the tough operating environment, we have been able to maintain revenue momentum in our key target areas, with total revenue growth improving to 6%,” said Jason Quinn, Absa Group Financial Director.

    Absa Group’s largest business unit, Retail and Business Banking South Africa (RBB SA), is showing faster than market growth in key product areas, in line with the group’s commitment to regain its leading position. RBB SA increased its share of home loans new business, with home loan registrations growing 16% – more than double the growth in total home loan registrations in South Africa during the first half. Retail deposits grew 12% while the market increased 9%. New personal loans increased 20%. RBB SA reported a 4% increase in earnings.

    Corporate and Investment Banking (CIB) earnings decreased 5% on a pan-African basis, following a difficult trading period in South Africa. However, the client franchise continued to perform well with notable client acquisitions across the countries in which Absa has a presence. The corporate franchise extended its track record of double-digit revenue growth.

    Absa’s subsidiaries outside of South Africa, collectively known as Absa Regional Operations (ARO), continued to increase their contribution to group earnings. ARO’s earnings rose 8% during the period, to account for more than a fifth of total Absa Group earnings.

  • Barclays Bank Staff Donate Ugx 43 Million to Paediatric Patients

    Barclays Bank Staff Donate Ugx 43 Million to Paediatric Patients

    Barclays Bank Uganda staff on Friday visited Bless a Child Foundation in Makerere Kikoni and handed over a cash donation worth Ugx 43,076,853 that was collected during a fundraising dinner last year.

    The bank, which is part of the Absa family, has over the years raised funds to support Bless a Child Foundation, a non-governmental organisation that provides care support services to children suffering from cancer.

    The funds are collected annually during fundraising dinners to support Bless a Child Foundation that was established in March 2007 to provide adequate medical care and support to paediatric cancer patients, their siblings and immediate families.

    Led by the Bank’s Chief Finance Officer, Mr. Michael Segwaya, the Barclays Bank Uganda team toured the Children’s Home and interacted with some of the patients and their caretakers before handing over the cheque as part of their Citizenship and Corporate Social Responsibilities.

    “We are proud to have supported Bless a Child Foundation over the years. We have made this donation to ensure that paediatric patients under medical care continue to live normal lives and receive educational and moral support while undergoing treatment,” Mr. Segwaya remarked as he applauded Brian Walusimbi, Bless a Child’s founder for the initiative.

    Receiving the donation, Brian Walusimbi who is also CEO of the children’s organisation, expressed his excitement at the gesture and commended the support received from the Bank’s staff. “Since Bless a Child Foundation launched an annual fundraising drive, Barclays Bank Uganda has held our hand and we are grateful for the continuous support. Partnering with Barclays Bank Uganda gives a chance to these young children to have a better life, and enjoy opportunities that are vital for their future.”

  • Call to emerging Ugandan artists to enter Absa L’Atelier competition

    Call to emerging Ugandan artists to enter Absa L’Atelier competition

    Three promising artists will be selected for international residencies in France & South Africa

    Kampala: Counting some of Uganda’s most prolific artistic talent among its past entrants, Barclays Bank Uganda’s parent company, Absa Group, has unveiled a new-look Absa L’Atelier, while encouraging Ugandan artists to enter the unique competition.Ultimately, three finalists will receive international artistic residencies at France’s Cité Internationale des Arts and in South Africa as part of the competition.

    Designed to identify and nurture the rich artistic talent across Africa, Absa L’Atelier intends to give the next generation of African artists the grounding and skills needed to bring their possibilities to life and build sustainable careers in the arts. The competition’s new look – which is in-line with Absa Group’s new visual identity – is a taste of what is to come for Barclays Bank Uganda, which is on its own journey to change its name and look to the Absa brand.

    The competition is open to entrants from the 12 African countries in which the Absa Group operates: Botswana, Ghana, Kenya, Mauritius, Mozambique, Namibia, Nigeria, Seychelles, South Africa, Tanzania, Uganda, and Zambia.

    The country’s track record in the Absa L’Atelier competition is strong, with Ugandan artist Gillian Abe having taken home a First Merit Award at the 2018 Absa L’Atelier, for her work Seat of Honour. Ugandan artist Darlyne Komukana’s Kampire Pastwas exhibited at the 2018 Absa L’Atelier exhibition, alongside work by fellow locals Adonias Ocom (a photographer and figurative artist) and Donald Wasswa (a contemporary multidisciplinary artist).

    “Uganda is renowned as an artistic melting pot in Africa, with ancient, old and more modern art all mixing together to create a colourful artistic cultural history. The country’s long history of formal art education has contributed to a developed art sector, but we hope that Absa L’Atelier’s support for emerging Ugandan artists will play a role in further developing the sector,” said Harriette Kasirye, Head of Marketing and Corporate Relations at Barclays Bank Uganda.

    Entrants will compete within ‘country groups’, which were drawn at the opening event in Johannesburg earlier this morning. The 12 countries have been divided into three groups of four countries, and participating artists will compete with other artists within their group. Ugandan entrants will be competing against participants in Pool C, which also includes Namibia, Nigeria and Zambia.

    Entering its 34th year, Absa L’Atelier has built a strong legacy as a platform that allows the dynamic, inspiring and young visual artists of our continent to shine. “Established during the peak of apartheid in South Africa, L’Atelier soon gained prominence as one of the few platforms for visual artists to gain exposure locally and internationally. It has solidified that reputation in the intervening years,” says Dr Paul Bayliss, Absa Group Art & Museum Curator.

    Changes to this year’s Absa L’Atelier programme

    As a way of building on this legacy and to ensure that Absa L’Atelier remains at the cutting edge of the ever-evolving art world, Absa has made several changes to the competition this year – changes that are designed to ensure participating emerging artists receive the right artistic support for their discipline.

    Key changes to competition include a streamlining of the adjudication process, which has been moved online to reflect Absa’s shift towards becoming a digitally led bank. The competition now features one tier of adjudication that allows entrants (aged 21 to 40) to submit a portfolio of work comprising a minimum of four and a maximum of five pieces of artwork. All adjudication will be conducted on the designated digital platform.

    Absa L’Atelier’s changing face means artists’ works will be reinterpreted and curated through a more pan-African lens that will ensure they get the exposure they need to help bring their possibility to light. This focus ties in with Absa’s commitment to the continent, which is encapsulated in its Africanacity concept.

    Absa L’Atelier seeks to provide African talent with the platforms necessary to bring their possibilities to life; with a hope that these will create a generation of ambassadors that will, in turn, go on to mentor younger artists.

    Developing African artists through the Absa L’Atelier programme

    Of special note is that the victors from each group will receive a one-month artistic residency in Paris, and become art ambassadors for the African continent. Absa L’Atelier partner Cité Internationale des Arts and Alliance Française will offer much-needed support to the artistic ambassadors during this residency in the form of mentoring and facilitating meetings and connections with other artists.

    “Absa L’Atelier plays a critical role in supporting different visual dialogues and strengthening the presence of the artist within the African and European continents,” says Avitha Sooful, President of the South African National Association for the Visual Arts (SANAVA), another Absa L’Atelier partner.

    Ambassadors will then travel to South Africa for a two-month residency, during which time they will collaborate between themselves on developing new art pieces for the final Absa L’Atelier exhibition. Artists can also work on individual pieces for the final exhibition, and will receive a weekly Art Masterclass designed to hone their skills during their two-month residency. These masterclasses will be filmed and published online as a way to share knowledge.

    The Absa L’Atelier exhibition will open at the Absa Gallery in Johannesburg, South Africa and participating artists will thereafter return to their respective home countries – the culmination of a months-long journey designed to draw attention in multiple markets to each person’s art. The invaluable experience gained from residencies, exhibitions and mentorship from renowned industry experts will form the core prize.

    “We believe in nurturing the incredible talent seen across the continent, and in working to ensure that priceless skills and knowledge are passed between like-minded artists in a way that helps up-and-coming artists build prosperous long-term careers in the art world,” said Harriette Kasirye.

  • Vivo Energy Uganda launches the Visa-enabled EasyGo card

    Vivo Energy Uganda launches the Visa-enabled EasyGo card

    Vivo Energy Uganda, the company that distributes and markets Shell-branded fuels and lubricants has launched its ground-breaking Visa-enabled fuel card dubbed EasyGo. The card is called EasyGo because it will deliver ultra-convenience to motorists and shoppers. It allows them to budget and plan for their expenditure, monitor and track usage, get discounts for their purchases and earn usage rewards on a secure platform.

    The EasyGo card is designed to enable Shell customers to shop at Shell service stations when buying fuel, car service, shopping, gas refills and at any outlet all over the world that accepts Visa payments.

    This means that the task of planning and budgeting for fuel for individuals and for commercial motorists including Uber drivers, boda-boda riders, taxi operators, and fleet owners is made easier.

    The EasyGo card has best in class security features of Chip & Pin. The in-built ultra-secure technology secures your transactions, both at the service stations, shops and online. EasyGo card holders will have access to a self-service online portal where they can view their real-time account balances, transaction statements and also change their pin whenever they desire.

    Customers get instant SMS alerts on their mobile phones after every transaction so they can track their transactions. It further removes the need for motorists to carry cash for fuel and shopping, thus reducing the risks that come with carrying cash.

    To get the EasyGo card, customers will only need provide either one of these identity documents: National ID, passport or driver’s permit, along with their mobile phone number. The card will then be processed and issued immediately, making it hassle-free and convenient to register and top up. Customers can top up the card at Shell service stations, as well as through mobile money by dialing the code *233*40#yes to follow the prompts.

    Speaking at the launch of the EasyGo card, the Managing Director Vivo Energy Uganda, Mr. Gilbert Assi, said “Unlike other card payments that come with charges, our fuel card has no transaction fees or subscription fees. The card is also designed to give you rewards and discounts on your purchases at Shell service stations. This card also enables people who don’t have a bank account to access Visa services without a bank account. It is an opportunity for financial inclusion for all our customers.”

    Vivo Energy’s Retail Manager, Issa Karanja added that “The introduction of the EasyGo card amplifies Vivo Energy’s position as an innovator and customer-centric company in the fuel industry. A wide range of our customers participated in the product development process and the end product includes features requested by customers – it is no wonder the product has had great traction already.”

    “The EasyGo card was developed because of the growing trend of cashless and online transactions in Uganda. It has also been developed with a reward on loading and cashback for every use at the forecourt for Shell loyal customers, as well as amazing discounts for subsequent promotions Vivo Energy will run. The EasyGo card works across borders and some of our customers have used the card at Shell service stations in Kenya.” He further highlighted.

    Managing Director Vivo Energy Uganda, Mr. Gilbert Assi gives his remarks the the EasyGO launch

    The Managing Director of Barclays Bank, Mr. Rakesh Jha pointed out that, “The EasyGo card is the only fuel card on the market that is Visa enabled thus giving user access to a wider range of services. By extending outside traditional banking boundaries, this partnership creates opportunity for us to support the acceleration of financial inclusion since prepaid products play a vital role in reducing the dependence of cash, while allowing us to reach more people,” he added.

    Visa’s Country manager for Uganda, Mr. Victor Ndlovu said; ‘We want to make paying for fuel and other commodities and services at fuel service stations as convenient as possible for motorists. One of the key barriers to card usage in Uganda is the lack of awareness of the benefits of electronic payments.

    “We would like to encourage consumers to use their EasyGo card for an enhanced everyday spending experience and enjoy the benefits that come with this card”.

  • 20,000 people to get water from NWSC-Barclays initiative

    20,000 people to get water from NWSC-Barclays initiative

    Barclays Bank Uganda Ltd and National Water and Sewerage Corporation (NWSC) have entered a partnership to build 100 Public Stand Posts (PSPs) in 23 select towns in Uganda where the bank operates.

    The initiative coincides with activities to mark 90 years of the bank’s experience in Uganda where the bank operates.

    The bank has made a contribution of UGX200,000 million shillings for the construction of 100 public water points for the urban poor communities in 23 selected towns.

    PRO-POOR SERVICE: The construction of the PSPs in line with the NWSC Strategic Direction whose objective is to achieve 100% coverage by 2020. It also falls within the NWSC Infrastructure Service Delivery Programme (ISDP) in which the corporation is extending about 1000kms of water pipes to take clean water to more people.

    NWSC has on the request of the bank agreed to construct the water points and make the connections within its ISDPs and urban poor initiatives. Each PSP serves 20-30 households or about 200 people. The corporation has over 10,866 PSPs in its operational areas across the country.

    WATER FOR ALL: As at June 2017, NWSC was operating in 179 towns up from only 26 towns in 2014. The Corporation Serves over 7 million people through over 500,000 water connections. The NWSC service footprint is set to increase further following the handover of a further 25 new towns to the corporation by the Ministry of Water and Environment. NWSC is committed to water for all for delighted customers by a delighted workforce.