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Access Bank buys Standard Chartered’s operations in Angola and four other African countries

Nigerian bank Access Bank will buy Standard Chartered’s operations in five African countries, including Angola, international financial agencies announced on Monday, noting that the financial deal should be completed next year.

In addition to Angola, Standard Chartered is also expected to exit Cameroon, Ghana and Sierra Leone and sell its retail, private and business units in Tanzania.

Standard Chartered also has a presence in Mozambique, but there is no information on the possible inclusion of operations in this Portuguese-speaking country in the group of countries in which Access Bank will take over operations.

“Access Bank will provide a wide range of banking services and ensure the smooth operation of key stakeholders, including employees and customers of the bank’s offices in five countries,” Standard Chartered said in a statement.

The deals are still subject to the approval of the Nigerian financial regulator.

Author: Portuguese
Source: CM Jornal

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