Standard Chartered Assures Customers Deposits Safe Amid Ghana Retail Business Sale Plans

The single sharpest fact in one punchy sentence: Standard Chartered Bank Ghana is selling its Wealth and Retail Banking business amid assurances that customers' deposits are safe. Standard Chartered Bank Ghana has assured customers that their deposits remain safe and that all banking services continue to operate as normal. The assurance was contained in an email to customers dated Friday, June 26, 2026, and sighted by JoyBusiness. The bank urged customers not to panic after announcing its intention to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana. According to the bank, customers can continue to conduct their normal banking transactions throughout the transition period without disruption. Standard Chartered also disclosed that the planned sale process is expected to take between 18 and 24 months, subject to regulatory approvals. “We are committed to managing this process with our key stakeholders to minimise any disruption to you,” the bank said. It added: “We will continue to update you on any relevant developments during the transition.” JoyBusiness has also learned that the Managing Director of Standard Chartered Bank Ghana, Xorse Augustine Godzi, has been engaging clients since Thursday to explain the process and address concerns. Sources close to the bank said the announcement was necessary because Standard Chartered PLC is a listed company and is required to disclose such strategic decisions to the market.

Dr Papa Kwesi Nduom, Founder and Chairman of Groupe Nduom, has expressed interest in acquiring Standard Chartered Bank Ghana's retail business. In a WhatsApp exchange with JoyBusiness from the United States, Dr Nduom said the group would also consider listing the new entity on the Ghana Stock Exchange. The bank is not cutting ties with the market entirely, as it has stated that its Corporate and Investment Banking operations in Ghana will continue to serve clients through the bank's international network, cross-border capabilities, and sector expertise.

The sale forms part of Standard Chartered's broader strategy to focus on markets and client segments where it has greater scale and a stronger competitive advantage. The decision does not affect its Corporate and Investment Banking operations in Ghana, which will continue to serve clients through the bank’s international network, cross-border capabilities, and sector expertise.

Any potential transaction remains subject to regulatory approval. The Bank of Ghana has been urged to prioritise indigenous investors in the sale process. “Make no mistake about this: if Standard Chartered is selling its retail banking business, the buyer should be an indigenous Ghanaian company,” Dr Nduom wrote on Facebook.

The bank has assured its customers that they can continue to conduct their normal banking transactions throughout the transition period without disruption.

“We are committed to managing this process with our key stakeholders to minimise any disruption to you,” the bank said.

Ghana’s banking industry has undergone significant changes in recent years, with several banks facing consolidation and acquisition. Standard Chartered Bank Ghana has assured customers that their deposits remain safe despite plans to explore the sale of its Wealth and Retail Banking business. The sale of Standard Chartered's Wealth and Retail Banking business comes at a time when Ghana's banking sector is undergoing significant changes.

It is worth noting that the sale of a major bank's retail business can have significant implications for the sector as a whole, and Ghana's economy. The Ghana Stock Exchange has witnessed significant trading activity in recent months, with investors continuing to show interest in Ghanaian stocks.

The sale of Standard Chartered's Wealth and Retail Banking business is expected to take 18-24 months subject to regulatory approvals. Standard Chartered has assured its customers that they can continue to conduct their normal banking transactions throughout the transition period without disruption.

The bank has a significant presence in Ghana, with several branches across the country. Its customers can continue to conduct their banking transactions as usual, the bank has assured.