Access Bank Tanzania has finalized the acquisition of Standard Chartered Bank’s Consumer, Private, and Business Banking operations in the country, completing a transaction first announced in 2022 and concluded in June 2025.
The deal, approved by all relevant regulators, is part of Standard Chartered’s global plan to streamline operations and focus on scalable business areas, including corporate and investment banking.
Imani John, Managing Director of Access Bank Tanzania, said the transaction reinforces the bank’s strategy to become a full-service financial institution and allows it to serve a broader segment of Tanzanians with more inclusive and digitally enabled services.
He noted that the integration of Standard Chartered’s business expands Access Bank’s footprint and enhances its ability to provide products tailored to individuals, SMEs, and high-net-worth clients, while supporting national financial inclusion goals.
Under the expanded platform, clients will gain access to a wider range of services, including savings and lending, SME finance, trade and investment products, and enhanced private banking.
The bank has also upgraded its wealth management offerings and cross-border capabilities via the Access Bank Group network.
Access Bank also reaffirmed its commitment to underserved populations through programmes such as PrimusPlus for SMEs and the W Initiative for women entrepreneurs.
Digital banking services have been expanded via the AccessMore mobile app and USSD banking to improve accessibility and convenience.
Herman Kasekende, CEO of Standard Chartered Tanzania, described the completion of the transfer as a key step in the bank’s global repositioning.
He said the bank’s focus in Tanzania is now fully aligned with its strategic priorities in corporate and institutional banking.
The acquisition is part of a broader transaction announced in July 2023, in which Access Bank Plc agreed to acquire Standard Chartered’s Consumer, Private, and Business Banking operations in Tanzania, along with its shareholdings in subsidiaries in Angola, Cameroon, Gambia, and Sierra Leone.
The deal was structured as a complementary transaction, combining Access Bank Tanzania’s operations with those of Standard Chartered in the local retail segment.
Its completion in June 2025 followed the timeline previously anticipated for the second quarter of the year.
The deal also builds on Access Bank’s acquisition of BancABC Tanzania and its May 2025 acquisition of the National Bank of Kenya.
Access Bank now operates in 24 markets, including 16 in Africa, as it implements its pan-African growth strategy.
