End of the titans’ era in banking

Standard Chartered, the country’s oldest bank, expects to exit the country in the next 12 to 15 months. As Mmegi reported earlier this week, while the bank initially sought bidders for its Wealth and Retail Business unit, suitors said they preferred the entire business.

“Through market engagements, bidders have made it clear that they see significant value in the combined scale of the full SC Botswana franchise – including in the potential for efficient funding, operational leverage, and client coverage,” the bank said in a statement.