Absa gets approval to buy Standard Chartered Uganda assets

Absa Bank Uganda has secured support from the Bank of Uganda to instrumentality implicit the wealthiness and retail banking concern of Standard Chartered Uganda.

Standard Chartered agreed successful October 2025 to merchantability its wealthiness and retail banking operations successful Uganda to South Africa’s Absa Group for an undisclosed amount.

According to a Reuters report, the disposal forms portion of Standard Chartered’s broader program to permission the wealthiness and retail banking segments successful Botswana, Uganda and Zambia.

Standard Chartered Uganda CEO and managing manager Sanjay Rughani said: “This support is timely and a testament to the spot and captious publication of some banking institutions to the banking industry.

“This determination reflects our continued committedness to align our operations with the Standard Chartered Group’s planetary strategy, focusing connected our halfway strengths successful Corporate & Investment Banking. We are arrogant of the beardown retail franchise we person built implicit the years successful Uganda and are assured that Absa Bank is good positioned to instrumentality this concern guardant ensuring continuity, innovation and enhanced lawsuit experiences.”

Absa Bank Uganda said customers would spot nary contiguous changes, with mean banking services continuing done existing channels.

It added that immoderate adjustments linked to the transportation would beryllium communicated successful beforehand and successful enactment with regulatory rules.

The woody is owed to instrumentality effect aft completion of the modulation process for the transportation of Standard Chartered Uganda’s WRB business.

Absa Bank said it volition support engaging with regulators, customers and different stakeholders arsenic the process moves forward.

Absa Bank Uganda managing manager David Wandera commented: “The Bank of Uganda’s support is an important milestone that reinforces assurance successful Uganda’s banking strategy and successful Absa’s semipermanent committedness to the market. Drawing connected our acquisition from the Barclays to Absa modulation successful 2019, Absa brings proven capableness successful managing analyzable banking transitions nether regulatory oversight, with a beardown absorption connected lawsuit continuity and operational stability.”

"Absa gets support to bargain Standard Chartered Uganda assets " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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