Standard Chartered Bank Ghana has reassured its customers that their deposits are safe and all banking services remain fully operational. This assurance comes after the bank announced its intention to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana.
The bank communicated this message to customers via email on Friday, June 26, 2026, urging them not to panic. Customers can continue to conduct their normal banking transactions without disruption throughout this transition period. The planned sale process is anticipated to take between 18 and 24 months, contingent on necessary regulatory approvals.
This strategic move aligns with a broader trend of international banks re-evaluating their presence in various markets to sharpen their focus. Standard Chartered PLC aims to concentrate on regions and client segments where it possesses greater scale and a stronger competitive advantage. The decision is part of a regular portfolio review, ensuring the bank maximises its distinctive client propositions.
Standard Chartered Bank Ghana stated, “We are committed to managing this process with our key stakeholders to minimise any disruption to you.” The bank also confirmed its intention to keep customers updated on relevant developments during the transition period. Sources close to the bank indicate that this public disclosure was necessary due to Standard Chartered PLC's status as a listed company, requiring it to inform the market of significant strategic decisions.
The potential sale does not affect Standard Chartered's Corporate and Investment Banking (CIB) operations in Ghana. These operations will continue serving clients through the bank's international network, leveraging its cross-border capabilities and sector expertise. Any transaction remains strictly subject to regulatory approval from the Bank of Ghana.
Dr. Papa Kwesi Nduom, Founder and Chairman of Groupe Nduom, has already expressed interest in acquiring Standard Chartered Bank Ghana's retail business. Dr Nduom disclosed via WhatsApp that Groupe Nduom is considering this possibility. He also indicated plans to list any newly acquired entity on the Ghana Stock Exchange.
In a separate Facebook post, Dr Nduom urged the Bank of Ghana to prioritise indigenous investors in any sale process. He wrote, “Make no mistake about this: if Standard Chartered is selling its retail banking business, the buyer should be an indigenous Ghanaian company.” This highlights a growing sentiment to empower local ownership in Ghana's financial sector.
The Managing Director of Standard Chartered Bank Ghana, Xorse Augustine Godzi, has reportedly been engaging clients since Thursday. He is explaining the process and addressing any concerns they might have. This proactive communication aims to maintain customer confidence during the proposed divestment period.
The banking sector in Ghana will closely watch the regulatory approval process and potential bids. This transaction represents a significant development for the local financial industry. It could shift market dynamics and provide opportunities for indigenous financial institutions.