Access Bank Acquires Standard Chartered Cameroon

Standard Chartered Bank has officially handed over its operations in Cameroon to Access Bank Cameroon, marking the completion of its strategic exit from the country. The transaction forms part of the bank’s broader plan to streamline its presence in sub-Saharan Africa, following earlier divestments in Angola, The Gambia, Tanzania, and Sierra Leone.

The transfer reflects Standard Chartered’s focus on operational efficiency, simplification, and scaling its core businesses. During the process, both banks collaborated closely to integrate branches, staff, systems, and clients into Access Bank’s existing network. The handover aims to ensure continuity for customers and employees while providing a foundation for Access Bank’s expansion in Central Africa.

Commenting on the development, the Chief Executive of Standard Chartered Cameroon highlighted the significance of the transition, noting that staff and clients remained central to the process. Similarly, the Managing Director for Standard Chartered in Kenya emphasized that the divestment aligns with the bank’s long-term strategy to concentrate on markets where it can deliver the greatest impact. Despite exiting the local banking operations, Standard Chartered will continue facilitating international capital flows into Cameroon.

The integration is expected to create new opportunities for growth and innovation, enabling enhanced banking services for customers and employees alike. This handover follows a similar move in Tanzania, where Access Bank acquired Standard Chartered’s Consumer, Private, and Business Banking operations earlier in the year.