BTA Admin The British banking giant plans to sell its wealth and retail banking operations in Ghana as it sharpens focus on corporate and cross-border banking across Africa.
Standard Chartered PLC has announced plans to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana, marking a major strategic shift for one of the country’s oldest foreign banks after more than 130 years of continuous operations.
The move signals a broader restructuring of the bank’s African operations as the London-headquartered lender intensifies focus on corporate banking, trade finance and cross-border investment services in markets where it believes it has stronger competitive advantages.
Despite the planned divestment, Standard Chartered confirmed that its Corporate and Investment Banking (CIB) division will continue operating in Ghana, maintaining the country’s role within the bank’s international network.
The bank said the decision aligns with its global strategy of concentrating capital on businesses and client segments that generate stronger long-term returns and support its cross-border banking model.
Retail exit reflects broader banking shift
In a statement issued on Thursday, June 25, 2026, Standard Chartered Ghana Chief Executive Officer and Head of Coverage, Xorse Godzi, described the retail banking business as a strong franchise that could continue growing under new ownership.
“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.
He added that Ghana would remain an important market for the bank’s international operations.
“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. 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 stated.
The transition is expected to take between 18 and 24 months, subject to regulatory approvals, with the bank assuring customers that operations would continue normally throughout the process.
Focus shifts to corporate and investment banking
The planned exit from retail banking reflects a broader trend among multinational banks operating in Africa, where several global lenders have reduced exposure to consumer banking while expanding corporate and institutional services.
Standard Chartered’s strategy increasingly centres on positioning itself as a “super-connector” between Africa, Asia, the Middle East and global financial markets.
The bank’s Head of Wealth and Retail Banking for Europe, Middle East and Africa, Bongiwe Gangeni, said the group continues to reassess how capital is allocated across its global operations.
“We continue to actively review our portfolio to ensure capital is deployed where it delivers the strongest returns and strategic impact,” she said.
She noted that the bank’s retail banking growth strategy in Africa would increasingly be anchored around larger regional hubs such as Kenya and Nigeria, where scale and digital banking opportunities remain stronger.
“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,” she added.
End of an era in Ghana’s banking sector
Standard Chartered has operated in Ghana since 1896, making it one of the country’s oldest financial institutions and among the first international banks to establish a presence in the country.
Over more than a century, the bank played a central role in Ghana’s banking evolution, serving generations of corporate clients, governments and retail customers.
The planned sale therefore marks the end of an era for Ghana’s retail banking industry, even as the bank maintains its institutional banking operations.
Financially, the Ghana business remains profitable.
In its 2024 financial year, Standard Chartered Ghana reported operating income of GH¢1.81 billion, representing a 10% year-on-year increase. The bank also posted a Capital Adequacy Ratio of 24% and a Return on Tangible Equity of 34.9%.
It additionally declared dividend payments of approximately GH¢227.9 million to shareholders during its 55th Annual General Meeting.
Africa remains central to strategy
Although the bank is reducing exposure to retail banking in Ghana, Standard Chartered said Africa remains a core component of its international growth strategy.
Over the past five years, the group said it has invested approximately $300 million into technology and Africa-focused ventures.
In 2025 alone, the bank financed around $5 billion in infrastructure projects across Africa, including the World Bank-backed $200 million Clean Cooking Outcome Bond, which unlocked more than $30 million in climate finance for Ghana.
The bank also participated in a $504 million sustainability-linked loan for Côte d’Ivoire.
Standard Chartered’s planned exit from retail banking in Ghana reflects the changing priorities of global banks operating in Africa.
Rather than competing aggressively in consumer banking, many international lenders are increasingly concentrating on corporate finance, infrastructure, trade and cross-border investment services where margins and scale are stronger.
For Ghana’s banking industry, the move could open the door for local or regional financial institutions to acquire an established retail banking franchise, while highlighting the broader transformation underway in Africa’s financial sector.
