The bank clarified that the proposed move will not affect its Corporate and Investment Banking (CIB) operations in Ghana, which will continue to serve clients through Standard Chartered’s international network, cross-border capabilities, and sector expertise.
The decision aligns with the Group’s renewed focus on cross-border and affluent banking clients, a strategy reaffirmed during its 2025 financial results presentation. Any potential sale remains subject to regulatory approvals.
Chief Executive Officer and Head of Coverage for Standard Chartered Ghana, Xorse Godzi, described the WRB business as a strong franchise with a loyal customer base and skilled workforce.
“Our WRB business in Ghana is a strong franchise with an established client base and talented colleagues. We believe it is well-positioned to continue succeeding under new ownership,” he said.
He noted that the bank is entering a new phase of growth by concentrating on business segments where it enjoys a clear competitive advantage and can leverage its unique cross-border strengths.
“Ghana remains a core part of our international network, and we continue to see long-term opportunities driven by trade, infrastructure investment and capital flows,” he added.
According to Mr. Godzi, the transition process is expected to take between 18 and 24 months, subject to regulatory approvals. He assured customers that operations would continue as normal during this period to ensure a smooth and orderly transition.
Bongiwe Gangeni, Head of Wealth and Retail Banking for Europe, the Middle East and Africa at Standard Chartered, said the Group regularly reviews its portfolio to ensure resources are allocated to areas with the greatest strategic and financial returns.
“We remain committed to supporting our clients through this transition, with a clear focus on continuity and client outcomes,” she stated.
She explained that the move is intended to strengthen the bank’s impact across Africa, with continued emphasis on key growth markets such as Kenya and Nigeria, where its retail banking operations complement its corporate banking franchises.
Standard Chartered reaffirmed its commitment to Africa, highlighting investments of US$300 million in technology and African ventures over the past five years.
In 2025 alone, the Group financed US$5 billion worth of infrastructure projects across the continent, including the US$200 million Clean Cooking Outcome Bond issued by the World Bank, which unlocked US$30.5 million in climate finance for Ghana, and a US$504 million sustainability-linked loan for Côte d’Ivoire.
The bank’s contributions to infrastructure and development financing have earned it several industry recognitions, including the Best Investment Bank for Infrastructure Finance award from Global Finance
Source: citinews
