Groupe Nduom eyes Standard Chartered retail business, calls for local ownership
Dr. Papa Kwesi Nduom, Founder and Chairman of Groupe Nduom, disclosed that the group is exploring the possibility of acquiring Standard Chartered Bank Ghana's retail banking business. Speaking to JoyBusiness via WhatsApp from the United States, Dr. Nduom said the group is assessing the opportunity and could list the new entity on the Ghana Stock Exchange if the acquisition is successful. In a separate Facebook post, Dr. Nduom urged the Bank of Ghana to prioritise indigenous investors in the sale process, stating: "Make no mistake about this: if Standard Chartered is selling its retail banking business, the buyer should be an indigenous Ghanaian company."
His comments followed Standard Chartered PLC's announcement of plans to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana. Standard Chartered Bank Ghana assured customers that deposits remain safe and banking services will continue uninterrupted. In an email to customers dated June 26, 2026, the bank stated clients could continue to transact normally and had no reason to panic. The proposed sale process is expected to take between 18 and 24 months, subject to regulatory approvals. Sources close to the bank told JoyBusiness that Managing Director Xorse Augustine Godzi has been engaging customers since Thursday.
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Groupe Nduom is considering acquiring Standard Chartered Bank Ghana's retail banking business, advocating for local ownership in the process. This
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