Feb 27 • 00:25 UTC 🇳🇬 Nigeria Punch

Standard Chartered records $10m loss from Cameroon, Gambia divestment

Standard Chartered Bank has reported a $10 million loss from divesting its operations in Cameroon and The Gambia.

In its 2025 financial statement, Standard Chartered Bank reported a significant $10 million loss due to its divestment from operations in Cameroon and The Gambia. This divestment is part of a broader strategy that includes agreements with Nigeria's Access Bank Plc, wherein Access Bank has acquired Standard Chartered’s shareholding in several subsidiaries across Africa. The report highlights a strategic shift for Standard Chartered as it consolidates its operations within the region and focuses on other markets.

Despite the losses incurred in Cameroon and The Gambia, Standard Chartered noted that it experienced gains in other investments during the same period. For instance, the bank recognized a notable gain of $238 million from its investment in Standard Chartered Research and Technology India, indicating a mixed financial performance across different markets. This reflects the bank's ongoing transition in its operational strategy while adapting to the dynamic economic environment in various countries.

The overall implications of this divestment strategy signal a realignment of Standard Chartered's business focus and potentially highlight challenges faced in the African banking sector. The completion of the transfer of operations to Access Bank Cameroon marks a significant milestone in this transition, and it aligns with the broader trend of consolidation and restructuring in the African banking landscape, driven by changing market conditions and competitive pressures.

📡 Similar Coverage