Bidding war heats up for StanChart

BusinessWeek is informed that interest has been noted from local financial-sector institutions, as well as regional players, but the Bank has declined to confirm. Standard Chartered Bank Botswana, commonly known as StanChart, has said that all processes related to its exit from the local market will be announced in due course.

Chief Executive Officer Mpho Masupe told BusinessWeek that the Bank has received strong interest from multiple credible bidders and is currently evaluating submissions.