Friday, August 19, 2022
HomeNewsAfricaStandard Chartered claims unwavering support for Africa

Standard Chartered claims unwavering support for Africa

Its tagline ‘We’re here for good’ may refer more to the bank’s hope to be a driving force for positive and sustainable change across its key geographies.

However, given the recent announcement that the bank plans to fully withdraw from Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe and close its Consumer, Private and Business Banking (CPBB) business in Tanzania and Cote d’Ivoire, the phrase has become steeped in irony.

“It was one of the toughest decisions the bank has ever had to make,” says Sarmad Lone, head of Corporate, Commercial and Institutional Banking (CCIB), Africa & Middle East at Standard Chartered Bank.

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