Скачать или смотреть StanChart Sells Ugandan Banking to Absa: Major African Finance Shakeup!

Standard Chartered Uganda Absa acquisition wealth retail banking sale Africa finance news.
Dive into the latest financial news as Standard Chartered agrees to sell its wealth and retail banking business in Uganda to Absa Group for an undisclosed amount. This move is part of StanChart's strategy to exit less profitable operations in Botswana, Uganda, and Zambia, focusing instead on high-growth areas under CEO Bill Winters.
Absa Bank Uganda will absorb the retail and wealth management portfolio, while StanChart keeps its corporate and investment banking arm. Kariuki Ngari, CEO of StanChart's Kenya and Africa operations, highlights how this accelerates income growth.
Meanwhile, Absa, South Africa's third-largest bank, sees this as a boost to its Pan-African ambitions, especially after stabilizing post its 2020 separation from Barclays under CEO Kenny Fihla.
Explore the implications for African banking, wealth management, and corporate strategies in this breaking news analysis.