For Standard Chartered Bank the exit will allow the group to focus on the most profitable markets. The exit calendar and the potential buyers are yet to be revealed.
British banking group Standard Chartered Bank announced Thursday (April 14), its plan to sell some of its activities. According to the release published on its website, the activities to be sold include five subsidiaries as well as retail and private banking segments in Africa.
“As we set out earlier in the year, we are sharpening our focus on the most significant opportunities for growth while also simplifying our business. We remain excited by a number of opportunities we see in the AME region, as illustrated by our new markets, but remain disciplined in our assessment of where we can deliver significantly improved shareholder returns,” says Bill Winters, Standard Chartered Group CEO, explaining the decision.
Once regulatory approvals are obtained, the group will exit Cameroon, Gambia, Sierra Leone, Zimbabwe, and Angola. It will also sell its consumer, private, and business banking segments in Côte d'Ivoire and Tanzania.
It will therefore remain fully active in 11 African markets with strong economies (Nigeria, South Africa, and Egypt) and where its subsidiaries are listed on local financial markets ( Ghana and Kenya).
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Four years after Russia’s 2022 invasion of Ukraine, the fertilizer market is facing a new shock as m...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
Côte d’Ivoire raises 110bn CFA francs, meeting full target Investor demand hits 291bn CFA fra...
Sonatrach to begin drilling at Kafra block in Niger Operations target oil potential across 23,737 sq km area Project revives 2018 discovery with...
Rockefeller, GEAPP commit over $100 million to Mission 300 initiative Funds support electrification planning, coordination, and investment...
Deal covers counterterrorism, conflict prevention, and cybersecurity cooperation EU delivers military equipment under €50 million support...
Project upgrades 77 km road to boost trade, regional connectivity Initiative aims to create jobs and support economic growth Cameroon and...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...