Standard Chartered has started a process to sell its Botswana subsidiary, Bloomberg reported on 19 February 2026, citing people familiar with the matter, after the bank said in January that it would explore a sale of the full franchise, as the London-headquartered group continues to reduce its presence in retail and wealth banking across sub-Saharan Africa.
The process covers the full range of the subsidiary's activities, encompassing corporate banking, investment banking, retail banking, and wealth management services. First-round bids are expected by mid-2026.
POTENTIAL BUYERS
Among the parties reported by Bloomberg to be interested are Nedbank, Absa, Standard Bank, and FirstRand, all South African banking groups.
The Bank of Botswana, which regulates the banking sector, would be required to approve any change of control in the subsidiary.
AFRICA RETAIL EXIT
The bank has previously exited or scaled back in several African markets.
Standard Chartered retains an institutional and corporate banking franchise elsewhere on the African continent, and in most markets its exits have been confined to the retail and wealth activities, although in Botswana it is now offering the entire franchise, including corporate and investment banking.