Standard Chartered Plc is exploring the sale of its Wealth & Retail Banking (WRB) business in Ghana, as the lender continues to streamline operations and focus on markets and client segments where it sees the strongest growth opportunities.
The bank told Impact Newswire the potential transaction would not affect its Corporate and Investment Banking (CIB) operations in Ghana, which will continue as part of its international network focused on cross-border business.
The sale process is subject to regulatory approvals, Standard Chartered said, adding that the transition, if completed, is expected to take 18 to 24 months.
“Our WRB business in Ghana is a strong franchise with established client base and talented colleagues,” Xorse Godzi, Chief Executive Officer and Head of Coverage at Standard Chartered Ghana, said.
“We believe that it is well-positioned to continue to succeed under new ownership,” he added, saying the bank was prioritising businesses where it has a competitive advantage and a differentiated cross-border offering.
Godzi said Ghana remained an important part of the bank’s international network, citing opportunities from trade, infrastructure investment and capital flows.
Bongiwe Gangeni, Standard Chartered’s Head of WRB for Europe, Center East and Africa, said the review was aimed at ensuring capital was directed towards businesses with the strongest strategic impact.
“We remain committed to supporting our clients through this transition, with a clear focus on continuity and client outcomes,” Gangeni said.
The bank said its WRB operations in Africa were increasingly concentrated around hubs in Kenya and Nigeria, while its CIB business continued to provide cross-border banking services across the continent.
Standard Chartered has maintained a presence in Africa as part of its global network, saying it invested $300 million in technology and Africa-based ventures over the past five years. The bank also said it financed $5 billion in infrastructure projects across Africa in 2025.
The lender, which operates in 54 markets globally, has been reshaping its portfolio to focus on affluent and internationally connected customers while reducing exposure to businesses where it sees lower growth potential.
Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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