Standard Chartered Uganda Limited has finalised the sale of its Wealth and Retail Banking (WRB) business to Absa Bank Uganda Limited, with the transfer taking effect on November 13, 2026.
The transaction, first announced in November 2024 and formalised by a sale agreement in October 2025, received all required regulatory approvals before the hand-over of customers, products and staff.
Migration of client accounts and banking systems is slated for the weekend of 13-November 15, 2026, after which customers are expected to access their accounts, cards and digital platforms through Absa from November 16, 2026.
Standard Chartered will retain its Corporate and Investment Banking franchise in Uganda, continuing to serve corporate clients, financial institutions and cross-border customers.
“The completion of this transaction is an important milestone for Standard Chartered in Uganda,” said Sanjay Rughani, Chief Executive Officer and Managing Director of Standard Chartered Uganda, adding that the bank’s priority had been to protect continuity for its WRB clients and staff.
“We are pleased to officially welcome Standard Chartered’s Wealth and Retail Banking clients and colleagues to Absa,” said David Wandera, Managing Director of Absa Bank Uganda, noting that both banks had worked closely to ensure a smooth transition while preserving products, pricing and support.
The acquisition adds Absa’s existing network of 39 branches, 85 ATMs and 25 cash-deposit machines to the newly acquired client base and expertise.
The deal aligns with Standard Chartered Group’s global strategy to focus on corporate and investment banking, following similar divestments such as the June 2025 hand-over of its Tanzanian WRB unit to Access Bank.
Both banks have committed dedicated support teams to guide customers through the migration and maintain service continuity.
