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Founder and Chairman of Groupe Nduom, Papa Kwesi Nduom, has confirmed that the group is exploring the potential acquisition of Standard Chartered Bank Ghana’s Wealth and Retail Banking (WRB) business following the bank’s decision to review a possible sale of the unit.
According to JoyBusiness, Nduom disclosed via WhatsApp from the United States that Groupe Nduom is currently assessing the opportunity and may consider listing the acquired entity on the Ghana Stock Exchange if the transaction proceeds.
He also called for any divestment process to prioritise indigenous Ghanaian investors, stressing that local ownership should remain a central consideration if the retail banking business is eventually sold.
Nduom’s comments come after Standard Chartered Bank Ghana reassured customers that their deposits remain secure and that banking operations will continue uninterrupted during the review process.
The bank has stated 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 clarified that its Corporate and Investment Banking business in Ghana will remain unaffected.
According to the bank, the planned divestment forms part of a broader strategic review aimed at concentrating resources on markets and client segments where it holds greater scale and competitive advantage.
As stakeholder engagement continues, the bank’s Managing Director in Ghana, Xorse Augustine Godzi, is reportedly meeting with clients to explain the transition process and address concerns surrounding the proposed sale.
The Bank of Ghana is expected to play a critical role in evaluating and approving any eventual transaction.
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