By Zobia Zulfqar 
Standard Chartered PLC has announced plans to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana as part of a broader strategy to focus on areas where it has the strongest competitive advantage and greatest scale.
The move forms part of the bank’s ongoing portfolio review process, which seeks to sharpen its focus on businesses and client segments that align closely with its international growth strategy.
The announcement, made on June 25, 2026, affects only the Wealth and Retail Banking division and will not impact Standard Chartered’s Corporate and Investment Banking (CIB) operations in Ghana. The bank confirmed that its corporate banking business will continue operating in the country and remains a key component of its international network.
According to Standard Chartered, the decision reflects its strategic emphasis on serving cross-border and affluent clients, a priority that was reaffirmed during the group’s 2025 financial results presentation.
Xorse Godzi, Chief Executive Officer and Head of Coverage at Standard Chartered Ghana, described the local retail and wealth banking business as a strong franchise with a loyal customer base and experienced 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 to succeed under new ownership,” he said.
Mr. Godzi emphasized that Ghana remains an important market within Standard Chartered’s global network. He noted that the bank continues to see significant opportunities in areas such as trade, infrastructure investment, and capital flows.
He added that any potential transaction would be subject to regulatory approvals and that the transition process is expected to take between 18 and 24 months.
“During this period, it will be business as usual for clients, with continued engagement to ensure an orderly transition and minimal disruption,” he said.
The bank reassured customers that all services would continue uninterrupted while discussions and regulatory processes progress.
Bongiwe Gangeni, Head of Wealth and Retail Banking for Europe, Middle East and Africa at Standard Chartered, said the bank regularly reviews its portfolio to ensure resources are directed toward areas that generate the strongest returns and strategic value.
She explained that the decision is part of a broader effort to create a more focused and impactful presence across Africa, particularly through major regional hubs such as Kenya and Nigeria, where the bank’s retail banking operations continue to experience growth.
“This is about being more focused and impactful in Africa while continuing to support clients through a smooth transition process,” she said.
Despite the planned sale, Standard Chartered reiterated its long-term commitment to Africa. Over the past five years, the group has invested approximately US$300 million in technology initiatives and African ventures.
In 2025 alone, the bank financed about US$5 billion worth of infrastructure projects across the continent. These included the World Bank’s US$200 million Clean Cooking Outcome Bond, which helped unlock US$30.5 million in climate finance for Ghana, as well as a US$504 million sustainability-linked loan in Côte d’Ivoire.
The bank’s contributions to infrastructure and sustainable development financing have earned it several international industry awards, including recognition as Best Investment Bank for Infrastructure Finance by Global Finance.
Standard Chartered Bank Ghana PLC has operated in Ghana since 1896, making it one of the country’s oldest financial institutions. The bank is part of a global banking group with operations in 54 markets worldwide and remains a significant player in Ghana’s banking sector.
Any final decision regarding the sale of the Wealth and Retail Banking business will depend on regulatory approvals and the outcome of ongoing strategic evaluations.