Standard Chartered completes divestment of Tanzania operations to Access Bank.

From Yahoo Finance: 2025-06-24 11:10:00

Standard Chartered has completed the transfer of its wealth and retail banking business in Tanzania to Access Bank, as part of a strategic divestment announced in April 2022. This move aligns with the bank’s global strategy to improve operational efficiencies and focus on core strengths. The country remains an integral part of its strategic footprint in Africa.

Standard Chartered Tanzania chief executive Herman Kasekende emphasized a seamless transition for employees and clients, ensuring they continue to receive high-quality service and support under Access Bank PLC. The bank remains committed to Tanzania through its corporate and investment banking business, serving as a key partner for corporates, institutions, and the government.

In a bid to aid SME growth, Standard Chartered partnered with Olea Global last year to explore integrated strategies and supply chain solutions for SME Banking clients. The memorandum of understanding between the two companies signals an alliance to boost SME development and digital infrastructure in Tanzania.



Read more at Yahoo Finance: Standard Chartered wraps up divestment of Tanzania operations to Access Bank