Standard Chartered Reaffirms Its Commitment to Ghana-Acquisition Deals Have Limited Impact On Five Other African Nations

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The recently concluded agreements pertain exclusively to Standard Chartered’s ownership in its subsidiaries located in Angola, Cameroun, as well as its Consumer, Private and Business Banking operations in Tanzania. Additionally, the agreements include two West African countries, namely The Gambia and Sierra Leone.

In a joint statement released following the signing at Standard Chartered’s London headquarters, together with Access Bank Plc (Access), it was emphasized that all transactions are subject to the approval of local regulators in the respective countries and the banking regulator in Nigeria, the home country of Access Bank Plc.

A spokesperson for the bank assured the Daily Graphic that they remain fully dedicated to serving their clients in Ghana and supporting their endeavors to achieve their goals.

During a two-day business visit to the country, José Viñals, Chairman of the international banking Group, reiterated Standard Chartered Bank’s unwavering commitment to Ghana. In a courtesy call on President Nana Addo Dankwa Akufo-Addo, he reaffirmed the Group’s steadfast dedication to conducting business in Ghana.

Mr. Viñals emphasized that Ghana continues to be a vital market for Standard Chartered, and the bank intends to continue investing in the country, providing significant attention and resources to support its economic growth.

To solidify this commitment, Mr. Viñals highlighted that his visit marked the first to an African nation post COVID-19, signifying both support and confidence in Ghana’s future.

He explained that they have continued to invest and are launching a platform for financing micro, small, and medium-sized enterprises, which is believed can have a transformative impact.