News
Absa celebrates separation programme from Barclays
Absa Group, one of Africa’s largest financial services providers, is celebrating substantial completion of its separation programme from Barclays PLC, three years after the start.
The separation, one of the largest and most complex corporate programmes of its kind, followed Barclays PLC’s 2016 decision to reduce its shareholding in the African group to a minority position.
Barclays became the majority shareholder in Absa in 2005 and the two groups subsequently integrated systems, processes and policies over time.
“We are closing an important chapter in the more-than-100-year history of the Absa Group as we wind up the last few elements of separation,” Absa Group Chief Executive Daniel Mminele said in a statement issued in Accra.
“We emerge from this chapter as a proudly independent African bank, strengthened and enriched by our experience as part of the UK group. We have a great foundation to build on and full control to make the decisions that are in the best interest of our customers and other stakeholders across all the African markets we operate in,” he said.
Barclays PLC contributed R12.6 billion (approximately $1 billion at the time) in 2017 towards the three-year separation programme, which comprised mainly Information Technology and brand projects, and which commenced on 6 June 2017.
The programme involved, among others, the largest single data and system migration in Africa as customers in nine countries were switched to a new online banking platform, improving customer experience through greater stability and upgraded user interfaces in several countries.
More than 1,000 branches, 10,000 Automate Teller Machines, close to 16,000 email addresses, several million customer cards, as well as thousands of uniforms, signage, forms, buildings and stationery were rebranded. At its peak, nearly 1,300 employees and contractors were dedicated to the separation programme.
“The initiatives undertaken have fundamentally improved Absa’s resilience, systems and capabilities, benefitting both employees and customers alike,” Mr Mminele said.
“I have been extremely impressed with how diligently and disciplined the colleagues have carried out this mammoth of a project, unparalleled on the continent in terms of size and complexity. We take great pride in having substantially completed the separation from Barclays PLC within budget and inside agreed timelines,” he said.
Absa Engineering Services Chief Executive, Paul O’Flaherty who leads the separation programme said, “The programme carried material risks, including potential large-scale banking system failures and customer attrition.”
“We worked closely with stakeholders including regulators across our presence markets to mitigate risk. We are proud to say that separation has been substantially completed in a safe and successful way,” he said.
BY TIMES REPORTER
News
GWL to embark on revenue mobilization in Northern, Savannah Regions from Nov 1 to Dec 31
The management of Ghana Water Limited (GWL) in the Northern and Savannah Regions has announced a revenue mobilization exercise aimed at retrieving outstanding arrears and addressing illegal connections.
The exercise, which will run from November 1 to December 31, 2024, seeks to detect self-reconnections and eliminate the unauthorized use of in-line booster pumps.
“The management of Ghana Water Limited (GWL) Northern/Savannah Regions, wishes to inform the public and its valued customers that it will embark on a revenue mobilization exercise in the Northern and Savannah Regions from 1st November to 31st December 2024.
“This exercise aims to retrieve all outstanding arrears owed by customers, identify and address illegal connections, detect self-reconnections, and eliminate the unauthorized use of in-line booster pumps,” GWL said in a statement.
GWL urged all customers to promptly settle their arrears through its official online channels or at designated pay points across the two regions to avoid service disruptions.
Click here to read the statement by GWL
Read below the statement by GWL
Source: citinewsroom.com
News
Election 2024: NMC to launch app to combat misinformation
The National Media Commission (NMC) says it is set to outdoor a media watch app to combat misinformation and disinformation ahead of the general elections.
According to the NMC, the initiative aims to enable journalists and citizens to capture real-time suspicious activities at polling stations for prompt action.
Speaking after a forum organised by the Institute of Democratic Governance (IDEG) on the theme “Moderating the Airwaves for Peaceful and Credible Elections 2024,” Executive Secretary for NMC, George Sarpong believes the initiative will be a crucial tool in promoting peaceful elections and enhancing the safety of journalists.
He explained that the app will be a game-changer that is expected to offer accurate information at various polling stations across Ghana.
“This is going to be a game-changer in the sense that it is going to offer us very accurate information about what is happening around the country about the elections.
“And then in terms of the electoral results, if anybody who is at any polling station at the time we are declaring the results, films and submits this, the system can verify the authenticity of what has been submitted.
“We believe that if there is any dispute regarding any incident, this will offer very efficient evidence for anybody interested in understanding exactly what happened there and to address it.
Source: citinewsroom.com