Access Bank Completes Acquisition of Standard Chartered Tanzania Consumer and Private Banking Business

Access Bank has completed its acquisition of Standard Chartered's consumer and private banking business in Tanzania. The deal integrates the acquired operations into Access Bank Tanzania, the former BancABC Tanzania, which Access Bank acquired in 2024 and later rebranded.

STANDARD CHARTERED'S AFRICA DIVESTMENT PROGRAMME

The Tanzania transaction is one element of a wider strategic programme that Standard Chartered initiated in 2022 to divest its consumer and private banking operations across multiple African markets.

Standard Chartered's April 2022 plan identified several African markets for exit, and in July 2023 it agreed to sell its Tanzania wealth and retail banking business to Access Bank as part of a five-market deal; the bank keeps its corporate and investment banking business in Tanzania.