21 February 2026
- Standard Chartered Plc has begun a process to sell its Botswana business and expects to get first bids by middle of the year.
- The business, which includes the corporate and investment bank, retail and wealth business, has drawn early interest from lenders including Nedbank Group Ltd. and Absa Group Ltd.
- Standard Chartered’s intention is to focus on larger markets on the continent, including South Africa, Nigeria and Kenya.
Standard Chartered Plc has begun a process to sell its Botswana business and expects to get first bids by middle of the year, according to people familiar with the matter.
The business, which will includes the corporate and investment bank, has drawn early interest from lenders including Nedbank Group Ltd., Absa Group Ltd., according to sources who spoke on the condition of anonymity owing to the fact that the details remain confidential at this stage. Standard Bank Group Ltd. and FirstRand Ltd.’s First National Bank unit are also in the running, said the sources.
Standard Chartered declined to comment on the details of the process and market speculation. Standard Bank, First National Bank, Absa and Nedbank also declined to comment. The sources say it’s still early days, and there are no guarantees that a deal will be concluded.
The sale reportedly includes its retail and wealth business in Botswana. The London-based lender has so far exited five Africa countries and partially sold units in Zambia and Uganda, completing most of the sales in 2024 and 2025.
Standard Chartered intends focus on larger markets on the continent, including South Africa, Nigeria and Kenya, sources say. They further said the company has managed to double its African wealth business to $4 billion over the past three years, largely driven by Nigeria and Kenya.
In recent years, several international banks including HSBC Holdings Plc and BNP Paribas SA have shrunk their business in Africa while local banks such as Standard Bank, Absa, Nedbank and First National Bank have expanded.
Sources say Standard Chartered could complete the sale by year-end, noting the internal mergers and acquisitions team is running the process.
Source: https://shorturl.at/1n6Nr
