Standard Chartered PLC has announced plans to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana.

This is part of a broader strategy to focus on businesses and client segments where it enjoys greater scale and a stronger competitive advantage.

According to a statement issued by the bank, the move forms part of the Group’s regular portfolio review process aimed at sharpening its focus on areas with the most differentiated client proposition.

The bank stressed that the decision does not affect its Corporate and Investment Banking (CIB) operations in Ghana, which will continue to operate and support clients through Standard Chartered’s international network, cross-border capabilities and sector expertise.

Any potential transaction, the bank said, remains subject to regulatory approvals.

SCB Ghana on the Move

Chief Executive Officer of Standard Chartered Bank Ghana and Head of Coverage, Xorse Godzi, said the retail banking business remains a strong franchise.

“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 added: “We are focused on the next phase of our growth by prioritising businesses where we have a strong competitive advantage and a distinctive cross-border proposition.”

Mr Godzi said Ghana remains central to 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.”

He disclosed that the transition is expected to take between 18 and 24 months, subject to regulatory approvals.

“During this period, it will be business-as-usual for clients, with continued engagement to ensure an orderly transition and minimal disruption,” he said.

Bongiwe Gangeni, Head of Wealth and Retail Banking for Europe, Middle East and Africa at Standard Chartered, said the Group remains focused on deploying capital where it generates the greatest returns and strategic impact.

“We continue to actively review our portfolio to ensure capital is deployed where it delivers the strongest returns and strategic impact.”

She added: “We remain committed to supporting our clients through this transition, with a clear focus on continuity and client outcomes.”

According to her, the move is intended to make the bank “more focused and impactful in Africa” through its hubs in Kenya and Nigeria, while complementing its corporate and investment banking franchises.

Standard Chartered said it remains committed to Africa’s growth agenda, noting that it has invested US$300 million in technology and Africa-based ventures over the past five years and financed US$5 billion in infrastructure projects across the continent in 2025 alone.