Access Bank Expands, Acquires Cameroonian Subsidiary of Top Bank Operating in Nigeria
- Standard Chartered has announced the transfer of its Cameroon operations to Access Bank Cameroon as part of African market exits
- The move follows divestments in Angola, The Gambia, Tanzania and Sierra Leone under the bank’s global restructuring plan in recent months
- Standard Chartered said it would continue to support international capital flows into Cameroon despite ending local operations
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Standard Chartered Bank has completed the transfer of its banking operations in Cameroon to Access Bank Cameroon.
This was disclosed in a statement dated December 5, 2025, marking the final step in its exit from the Central African market.
Source: UGC
The deal forms part of Standard Chartered’s plan to streamline its presence in Africa following earlier divestments in Angola, The Gambia, Tanzania and Sierra Leone.
Standard Chartered has been in operation since 1915 in Cameroon, when it was known as a Branch of the Bank of British West Africa.
Access Bank takes over Standard Chartered's operation
Standard Chartered announced in April 2022 that it would exit seven markets in Africa and the Middle East under a global restructuring programme.
The bank said:
“We are pleased to announce the successful handover of Standard Chartered’s Cameroon business to Access Bank Cameroon.
"We no longer have offices in Cameroon. Please reach out to Access Bank Cameroon or visit cameroon.accessbankplc.com for more information."
It added that the exit supports its strategy to reduce complexity, improve efficiency and drive scale.
Anna Asonganyi, CEO of Standard Chartered Cameroon, said the move represents a key milestone as the bank focuses on core businesses, adding that staff and clients were prioritised during the transition.
Access Bank and Standard Chartered teams worked together over several years to integrate operations, systems and personnel, the statement added.
The transition is expected to create growth opportunities and strengthen Access Bank’s footprint in Central Africa, BillionaireAfrica reports.
Access Bank gets new customers
Kariuki Ngari, Managing Director and CEO for Kenya, said the lender will continue to facilitate international capital flows into Cameroon despite ending onshore operations.
The exit comes six months after Access Bank acquired Standard Chartered Tanzania’s consumer, private and business banking unit, expanding its digital and retail presence in East Africa.
Source: Getty Images
Other Access Bank footprints across Africa and beyond:
- Access Bank Sierra Leone
- Access Bank Rwanda
- Access Bank United Kingdom
- Access Bank Ghana
- Access Bank Tanzania
- Access Bank Congo
- Access Bank Gambia
- Access Bank Zambia
- Access Bank Kenya
- Access Bank Mozambique
- Access Bank Botswana
- Access Bank Guinea
- Access Bank Nigeria
- Access Golf
- Access Bank Angola
Zenith Bank addresses plan to buy bank
Earlier, Legit.ng reported that Zenith Bank Plc has dismissed media reports from various sources claiming it is in talks to acquire Paramount Bank in Kenya.
The lender, in a statement signed by its Company Secretary, Michael Otu, released on NGX, said that no such transaction has been initiated or approved.
Zenith Bank added that the stories circulating in sections of the media suggesting that the bank had already made definitive decisions and commenced a takeover are false.
The lender explained that while no deal has been approved or concluded, it is actively pursuing regional expansion as part of its long-term growth strategy.
Don't miss out! Join Legit.ng's Sports News channel on WhatsApp now!
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
