Groupe Nduom Eyes Standard Chartered Ghana’s Retail Banking Business

June 29, 2026 

Groupe Nduom has announced its intention to pursue the acquisition of Standard Chartered Bank Ghana’s Wealth and Retail Banking (WRB) business following the bank’s decision to explore a divestiture of the segment.

Founder and Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom, revealed that the group is evaluating the opportunity and could eventually list the acquired business on the Ghana Stock Exchange if the transaction is completed.

In a facebook post, Dr. Nduom said the proposed acquisition aligns with the group's long-term growth strategy.

He also called on the Bank of Ghana to ensure that indigenous Ghanaian companies are given priority in the sale process.

"If Standard Chartered is selling its retail banking business, the buyer should be an indigenous Ghanaian company," he wrote in a Facebook post.

The development follows Standard Chartered PLC's announcement that it is considering the sale of its Wealth and Retail Banking operations in Ghana after a strategic review aimed at focusing on markets and customer segments where it has greater scale and competitive advantage.

Meanwhile, Standard Chartered Bank Ghana has reassured customers that the planned transaction will not affect its day-to-day operations or the safety of customer deposits.

In a notice issued to customers on June 26, 2026, the bank stated that all banking services would continue uninterrupted throughout the transition period and urged customers to continue transacting as usual.

According to the bank, the sale process is expected to take between 18 and 24 months, subject to regulatory approvals, with a commitment to ensuring minimal disruption to customers and other stakeholders.

Sources familiar with the process told the media that the bank's Managing Director, Xorse Augustine Godzi, has been engaging customers to explain the proposed transaction and address concerns.

The sources added that Standard Chartered publicly disclosed its plans because, as a listed company, it is required to inform the investing public of material developments.

The proposed sale is limited to the bank's Wealth and Retail Banking business. Its Corporate and Investment Banking operations in Ghana will continue to operate as normal, providing services through Standard Chartered's international network and cross-border banking capabilities.

The transaction remains subject to regulatory approval.