The initial reaction to Absa’s rebranding has not been good on either the JSE or Twitter. On its second day trading under the JSE code ABG after reverting to Absa from Barclays Africa Group, its share price fell as much as 4.6% to R154.50. Other banks were generally higher on Thursday morning, with the JSE’s banking index rising 0.36%, while Absa fell. On Wednesday, Absa’s share price closed 2% lower at R162. The bank tied its rebranding to a Twitter marketing campaign #Africanacity. "The new Absa approaches everything with #Africanacity. A word we created to describe the distinctly African ability to always find ways to get things done," the bank tweeted from its account @AbsaSouthAfrica.
But elsewhere on social media, many critics mocked its new look: