Banking: Uganda
Standard Chartered Uganda has sold its retail and wealth banking business to Absa Bank Uganda, part of the South African-based Absa Group. The handover took effect on Friday 13 November 2026, and Standard Chartered’s retail customers can use their Absa accounts from Monday 16 November.
Key Facts
—Deal. Standard Chartered Uganda completed the sale of its wealth and retail banking unit to Absa Bank Uganda.
—Effective. The transfer took effect on 13 November 2026, after Bank of Uganda approval.
—Customers. Accounts migrate between 13 and 15 November; Absa access starts on Monday 16 November.
—Stays. Standard Chartered keeps its corporate and investment banking business in Uganda.
—Price. The financial terms were not disclosed.
What Changes for Customers
Standard Chartered said in a statement on Friday 13 November 2026 that it had completed the sale and transfer of its Wealth and Retail Banking business to Absa Bank Uganda Limited. The final migration of accounts and services runs from 13 to 15 November.
Customers can start using their Absa accounts, services and channels from Monday 16 November. Standard Chartered will keep serving companies and institutions through its corporate and investment banking arm.
Why the Sale Happened
Standard Chartered, a British bank, has operated in Uganda since 1912. The sale comes after the group’s exit from retail banking in Tanzania in 2025, and the bank says it is leaving selected retail markets to focus on corporate and institutional clients.
The two banks first announced the agreement in October 2025, and the Bank of Uganda, the central bank and regulator, approved it at the start of June 2026. Our report on Absa’s wider Africa overhaul sets out the group’s strategy.
What To Watch Next
The first test is the migration weekend, when accounts move systems between 13 and 15 November. Absa’s service on Monday 16 November will show whether customers see any disruption.
More about Uganda’s economy is on our Uganda news page. Customers with questions should follow the notices of Absa Bank Uganda.
What Is Not Known
The price was not disclosed. The statement did not say how many customers or how much in assets moved, or what happens to the staff.
What It Means for You
Anyone who held a Standard Chartered retail or wealth account in Uganda should expect to use Absa channels from 16 November. Customers should follow the bank’s own notices for new card, app and branch details.
Frequently Asked Questions
When do Standard Chartered Uganda customers move to Absa?
The transfer took effect on 13 November 2026, with account migration from 13 to 15 November. Customers can use Absa services from Monday 16 November.
Is Standard Chartered leaving Uganda?
No. It keeps its corporate and investment banking business, but it has sold its wealth and retail banking operations to Absa Bank Uganda.
How much did Absa pay?
The financial terms were not disclosed in the statement. Neither was the number of customers transferred.
Sources: Standard Chartered Uganda statement of 13 November 2026 on the completion of the sale of its Wealth and Retail Banking business to Absa Bank Uganda Limited, as reported by Chimp Reports, a Ugandan news site; Bank of Uganda approval of the transaction, announced on 1 June 2026; announcement of the agreement, October 2025.
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