Standard Chartered PLC has announced plans to explore the possible sale of its Wealth and Retail Banking (WRB) operations in Ghana as part of a broader global strategy to streamline its portfolio and concentrate on high-growth client segments.
The proposed move forms part of the banking group’s ongoing review of its international operations, aimed at focusing resources on areas where it holds stronger scale advantages and a more differentiated client offering.
According to the company, the planned divestment relates only to the retail and wealth banking segment and will not affect its Corporate and Investment Banking (CIB) operations in Ghana, which will continue to operate as usual.
The CIB division remains positioned as a key part of Standard Chartered’s international network, providing cross-border financial services and sector expertise to corporate clients.
The bank emphasised that Ghana continues to remain an important part of its global footprint, particularly in facilitating trade, infrastructure financing and investment flows.
Xorse Godzi, Chief Executive Officer and Head of Coverage at Standard Chartered Ghana, said the WRB business has built a strong customer base and workforce, adding that it is well placed to continue under potential new ownership.
He explained that the group is now prioritising areas where it has a stronger competitive edge, particularly its cross-border banking model targeting affluent clients and multinational business flows.
Godzi also noted that any transition would take place gradually over 18 to 24 months, subject to regulatory approvals, and assured customers that services would continue without disruption during the process.
Bongiwe Gangeni, Head of WRB for Europe, Middle East and Africa, said the decision reflects the bank’s ongoing efforts to allocate capital more efficiently and enhance long-term returns.
She added that Standard Chartered remains committed to supporting clients throughout the transition period while ensuring continuity and stability in service delivery.
The group highlighted its continued investment in Africa, including US$300 million in technology and regional ventures over the past five years, as well as significant infrastructure financing activities across the continent.
Standard Chartered Bank Ghana PLC, established in 1896 and listed on the Ghana Stock Exchange, remains one of the country’s oldest and most established financial institutions, operating as part of the global Standard Chartered network spanning 54 markets worldwide.
