Transcribed
Access Bank to Acquire Stanchart Assets
Jul 19, 2023 ·
1m 25s
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Access Bank to Acquire Stanchart Assets
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Description
British multinational bank Standard Chartered (StanChart) revealed that it had completed negotiations to have all its sub-Saharan African assets acquired by Access Bank. The deal, which is set for competition...
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British multinational bank Standard Chartered (StanChart) revealed that it had completed negotiations to have all its sub-Saharan African assets acquired by Access Bank.
The deal, which is set for competition in 2024, will see the sale of StanChart’s subsidiaries in Angola, Cameroon, Gambia, and Sierra Leone, with the exception of StanChart’s Nigerian subsidy.
Access Bank will also acquire Standard Chartered’s consumer, private, and business banking business in Tanzania.
Standard Chartered says Access Bank will provide a full range of banking services and continuity for key stakeholders including employees and clients of Standard Chartered’s businesses across the five countries.
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The deal, which is set for competition in 2024, will see the sale of StanChart’s subsidiaries in Angola, Cameroon, Gambia, and Sierra Leone, with the exception of StanChart’s Nigerian subsidy.
Access Bank will also acquire Standard Chartered’s consumer, private, and business banking business in Tanzania.
Standard Chartered says Access Bank will provide a full range of banking services and continuity for key stakeholders including employees and clients of Standard Chartered’s businesses across the five countries.
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| Author | Africa Business Radio |
| Organization | Africa Business Radio |
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