Absa Acquires StanChart’s Uganda Unit

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Absa Group has acquired Standard Chartered’s retail and wealth banking operations in Uganda as part of Standard Chartered’s strategy to focus on corporate and investment banking. The deal expands Absa Bank Uganda’s customer base, strengthens its digital capabilities, and supports its Pan-African growth plans. Standard Chartered will continue serving corporate and institutional clients. The acquisition is expected to increase competition in Uganda’s retail banking sector and enhance customer access to wealth and digital services.