Absa–Standard Chartered Wealth and Retail Business Acquisition Deal Enters Regulatory Review as Sector Impact Becomes Clear Absa’s takeover of Standard Chartered’s retail and wealth business marks a seismic shift in Uganda’s banking landscape, boosting Absa’s deposits, expanding its assets, and deepening its retail reach as regulators begin their merger review. If approved, the deal could redefine competition and reshape market leadership heading into 2026.

Less than a year after Standard Chartered announced its plan to exit its Wealth and Retail Business (WRB) segment, the long-anticipated transfer to Absa Uganda has entered a decisive phase. On 24 October, Absa confirmed that it would acquire Standard Chartered’s entire WRB portfolio, including clients, staff, deposits, and assets. It is one of the most significant realignments in Uganda’s banking sector in recent years. The deal has now moved to the COMESA Competition Commission (CCC), which on 18 November issued a formal Notice of Inquiry. The inquiry will evaluate whether the transaction could reduce competition in the COMESA region…