Standard Chartered Bank Ghana is seeking to sell its Wealth and Retail Banking (WRB) business in Ghana as part of a broader strategy to focus on corporate and investment banking, while maintaining its long-term presence in the country.
The move, announced by parent company Standard Chartered PLC on Thursday, forms part of the Group’s ongoing portfolio review aimed at concentrating resources on businesses and client segments where it has greater scale and a stronger competitive advantage.
The proposed sale will not affect the bank’s Corporate and Investment Banking (CIB) operations in Ghana, which the Group said will continue to serve clients by leveraging its international network, cross-border capabilities and sector expertise.
Chief Executive Officer and Head of Coverage at Standard Chartered Ghana, Xorse Godzi, said the retail business remained a strong franchise with an established customer base and skilled workforce.
“Our WRB business in Ghana is a strong franchise with an established client base and talented colleagues. We believe that it is well-positioned to continue to succeed under new ownership,” he said.
He added that the bank was prioritising businesses where it enjoys a competitive advantage, while reaffirming Ghana’s strategic importance within Standard Chartered’s international network.
“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,” Mr Godzi said.
The bank expects the transition to take between 18 and 24 months, subject to regulatory approvals.
During that period, customers will continue to receive services without interruption.
“It will be business-as-usual for clients, with continued engagement to ensure an orderly transition and minimal disruption,” Mr Godzi assured.
The announcement follows the Group’s renewed strategic emphasis on cross-border and affluent banking, as outlined in its 2025 full-year financial results.
Head of Wealth and Retail Banking for Europe, Middle East and Africa at Standard Chartered, Bongiwe Gangeni, said the decision was intended to improve capital allocation and sharpen the bank’s strategic focus across Africa.
“We continue to actively review our portfolio to ensure capital is deployed where it delivers the strongest returns and strategic impact,” she said.
“This is about being more focused and impactful in Africa, driven by our hubs in Kenya and Nigeria, where our WRB businesses continue to drive growth at scale, complementing our super-connector CIB franchises in those markets.”
Despite the planned divestment, Standard Chartered said Africa remains central to its global strategy.
The Group disclosed that it has invested US$300 million in technology and Africa-based ventures over the past five years. In 2025 alone, it financed US$5 billion worth of infrastructure projects across the continent.
Among the transactions were the World Bank’s US$200 million Clean Cooking Outcome Bond, 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 said its continued investment in Africa has earned it several industry recognitions, including Global Finance magazine’s Best Investment Bank for Infrastructure Finance award.
Any sale of the Ghana retail banking business will be subject to regulatory approval.
