The British banking group Standard Chartered announced in an April 14 press release the total sale of five subsidiaries in Africa and two others in the Middle East, quoted by Financial Afrik.
The bank will withdraw completely from Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe. It will also close its retail banking operations in Tanzania and Ivory Coast to focus solely on investment banking. However, the bank says it intends to continue investing in Africa and the Middle East.
Earlier, it was the turn of Barclays Bank and BNP Paribas to announce the sale of their African subsidiaries.
