Barclay’s Bank Zambia Limited has invested US$ 25 million into the construction of its new head office and its brand transitioning to Absa Bank, a project to be undertaken within 18-24 months.
Barclays Bank Zambia Board Chairperson Chishala Kateka says the bank will continue to support key sectors of the economy that support the country’s growth development agenda even as it transitions into Absa group.
Speaking during the commissioning of the construction of the new Absa head office in Lusaka at the former Barclay’s Sports Complex attended by the Zambian Times – ZBT, Kateka said the construction of the new head office for Barclays Bank plc to be rebranded as Absa Bank Zambia is a demonstration of the efforts and commitment to become a Pan-Africa organization that is interested in the sustainable development of the financial sector.
She added that the Bank will further continues to invest in technology and provide services that bridge the financial gap and impart skills that will elevate the lives of many Zambians.
At the same event, Barclays Bank Zambia Managing Director, Mizinga Melu stated that the bank has demonstrated its long term commitment to Zambia.
Officiating the event, Bank of Zambia – BOZ Governor Dr. Denny Kalyalya said the investment of US$ 25 million by the bank in the new head office complex demonstrates that the local economy is ready for major investments.
Dr Kalyalya however challenged Barclays Bank Zambia and Absa Group to explore ways in which the bank can partner with Zambia in addressing some of the challenges facing the country such as load shedding, saying it has potential to negatively impact the country’s economic growth.
“It is our expectation that Barclays Bank Zambia and Absa group will come up with products and services that will contribute to the enhancement of alternative energy sources to mitigate the threat on economic growth and indeed financial stability arising from load shedding,” Kalyalya stated.
He added that Barclays bank is also expected to continue supporting SME’s in the country as the sector is key to sustainable development and economic growth.
