Groupe Nduom explores bid for Standard Chartered Ghana’s retail banking business

By Prince Antwi June 30, 2026

Founder and Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has disclosed that the group is exploring the possibility of acquiring Standard Chartered Bank Ghana’s Wealth and Retail Banking (WRB) business following the bank’s decision to review a potential sale of the unit.

According to JoyBusiness, Dr Nduom, speaking from the United States via WhatsApp, said Groupe Nduom is assessing the opportunity and could consider listing the acquired business on the Ghana Stock Exchange if the transaction is successful.

He also called for any divestment process to prioritise indigenous Ghanaian investors, arguing that local participation should be at the centre of the transaction if the retail banking business is sold.

His comments come after Standard Chartered Bank Ghana assured customers that their deposits remain secure and that banking services will continue without interruption throughout the sale process.

The bank has indicated that the proposed divestment of its Wealth and Retail Banking operations is expected to take between 18 and 24 months, subject to regulatory approvals. It also emphasised that its Corporate and Investment Banking business in Ghana will continue to operate as usual and will not be affected by the planned transaction.

According to the bank, the proposed sale forms part of a broader strategic review aimed at concentrating resources on markets and client segments where it enjoys greater scale and a stronger competitive advantage.

Dr Nduom’s interest comes as Standard Chartered continues engaging key stakeholders on the proposed divestment. The bank’s Managing Director in Ghana, Xorse Augustine Godzi, has reportedly been meeting with clients to explain the process, address concerns and reassure them about the continuity of services.

Any eventual acquisition will require regulatory approval from the Bank of Ghana, which is expected to play a central role in the transaction process.