STANDARD CHARTERED BANK CAMEROON Has Been Officially Transferred To ACCESS BANK, Ending A Transition Process Which Started In July 2023.

 On July 14, 2023, It Was Announced That STANDARD CHARTERED BANK  Of The United Kingdom, Had Entered A Sale Agreement With ACCESS BANK Of Nigeria, For The Latter To Takeover Some Subsidiaries of The Former In Africa, Which Included STANDARD CHARTERED BANK CAMEROON. Last Year, Gov’t Expressed Concern Over, “Lack Of Clarity In The Transaction”. Probably, The Transaction Ended Up Well.

 Standard Chartered Bank Cameroon which was created in 1986 by the mother company, Standard Chartered Bank of the United Kingdom, has finally and officially been transferred to the new proprietor, Access Bank Plc of Nigeria. This follows the completion of the long and delicate process of the transfer of the bank, comprised of clients and their savings, employees, as well infrastructures and equipment, from the former proprietor of Standard Chartered Bank Cameroon, that is, Standard Chartered Bank UK, to the new proprietor, Access Bank Plc, following the acquisition of the bank in Cameroon by the Nigerian Group.

The information about the official transfer of Standard Chartered Bank Cameroon to the new proprietor, Access Bank Plc Nigeria, is contained in a release that was issued in Douala, Cameroon, on December 5, 2025 by Standard Chartered Bank.

Meanwhile, the whole thing started in April 2022, when shareholders of Standard Chartered Bank of the United Kingdom, adopted what is termed a strategic decision by the Chief Executive Officer, CEO, of Standard Chartered Bank – Africa, KARIUKI NGARI, who doubles as the General Manager of Standard Chartered Bank Kenya. The strategic decision was that Standard Chartered Bank should stop its activities in a total of seven of the countries in Africa and the Middle where it was installed, in order to achieve or ameliorate operational efficiency and reduce complexity, in serving clients in countries where Standard Chartered Bank has a greater impact.

Standard Charted Bank And Access Bank Strike A Business Deal

Meanwhile on July 14, 2023, a press release was issued in London, United Kingdom, which announced that Standard Chartered Bank had entered a sale agreement with Access Bank Plc, to take over some subsidiaries of Standard Chartered in Africa.

The press release stated that: “Standard Chartered Bank and Access Bank Plc have entered into an agreement for the sale of Standard Chartered shareholding in its subsidiaries in Angola, Cameroon, The Gambia and Sierra Leone, and its Consumer, Private and Banking businesses in Tanzania. Each transaction remains subject to the approval of the respective local regulators and the banking regular in Nigeria”.

The July 14, 2023 press release further stated that, the announcement was made at Standard Chartered Bank’s headquarters in London on that day, in the presence of senior representatives from both banks. The announcement was signed by Sunil Kaushai, Regional CEO, Africa & Middle East, Standard Chartered, and Roosevelt Ogbonna, Group Managing Director, Access Bank Plc.  “The agreement with Access Bank for the sale of the bank’s businesses in Sub – Sahara Africa in line with Standard Chartered Bank’s global strategy, is aimed at achieving operational efficiencies, reducing complexity, and driving scale”,  the press release explained.

Last Year The Cameroon Gov’t Expressed Concern Over Lack Of Clarity In The Transaction

Meanwhile last year, the Cameroon Government was worried with some rather opaque areas that appeared in the then ongoing transaction between Standard Chartered Bank of the United Kingdom and Access Bank Plc of Nigeria, for the latter to take over the subsidiary of the former in Cameroon, known as Standard Chartered Bank Cameroon. The Cameroon Government expressed the concern, when the Minister of Labour and Social Security, Gregoire Owona, was in Douala to preside over a medal award ceremony at Standard Charted Bank Cameroon. By then, the General Manager of Standard Chartered Bank Cameroon was, Idrissa Kamara.  A total of 65 medals, amongst them 15 gold, were awarded to some meritorious workers, including the General Manager. The medal award ceremony at Standard Charted Bank Cameroon, was definitely the last of such a ceremony in the history of the bank in Cameroon, considering the arrangement that was underway for Access Bank to takeover, the Cameroon subsidiary or affiliate of Standard Chartered Bank. That was why the management of Standard Chartered Bank Cameroon, thought it wise to organize  the medal award ceremony, despite the fact that it came at a period of uncertainty in  the minds of many workers.

When An Enterprise Changes Hands

Meanwhile, at one point in his address at the medal award ceremony, the Minister of Labour and Social Security, Gregoire Owona, stepped away from the beautiful and joyful words, that usually characterized medal award ceremonies, to address an issue which in reality was very important to the workers, as it had to do with their future. The minister recalled the evolution of the Standard Chartered Bank Cameroon, and especially the decision that was adopted in 2022 by shareholders of the mother company, Standard Chartered Bank UK, to sell some of the bank’s subsidiaries, including Standard Chartered Bank Cameroon. As concerns Standard Chartered Bank Cameroon, the transaction for the sale or takeover deal between the mother company, Standard Chartered Bank UK, and Access Bank Nigeria, was by then ongoing.

But Minister Gregoire Owona, expressed Government’s concern over the opacity, or better still, the lack of clarity in some aspect of the then ongoing arrangement, for the proprietorship of Standard Chartered Bank Cameroon to change hands. He said it was unfortunately the case, despite the fact, that everything was done on the part of Government, to ensure that there was no dark or unclear spot in the arrangement. The minister stated for example that till then, which was late 2024, the employees of Standard Chartered Bank Cameroon were not yet certain on their future. Minister Owona cited Article 42, which states that when an enterprise changes hands, an employee can demand to leave, or to stay on. He stressed the fact that it is not the new proprietor that alone decides on whether an employee should stay or leave. He explained that both the new proprietor and the workers are supposed to talk and reach a compromise. The minister also cited Article 32 which states that in a situation where a worker decides to leaves an enterprise, when a new proprietor takes over, all his rights have to be paid.

Gov’t Vowed To Do All To Protect Workers

That was definitely a message of caution by the Cameroon Government to Standard Charted Bank and Access Bank that, according to Minister Gregoire Owona, had in their transaction so far left the employees of Standard Chartered Bank Cameroon in the dark as regard their future. The minister stressed that in the transaction between Standard Chartered Bank and Access Bank, the decision as to whether to stay or leave, could not be forced on any worker, for the Law protects workers. In other words,  Standard Chartered Bank UK and Access Bank Nigeria,  were compelled by the Law,  to also listen to the decision of each and every employee of Standard Chartered Bank Cameroon, for the person to say whether he or she wanted to leave or stay on, and then they all strike a compromise.

The Minister of Labour and Social Security, Gregoire Owona, vowed that Government would do everything to ensure that employees of Standard Chartered Bank Cameroon were protected, in the transaction between the Standard Chartered Bank UK and Access Bank Nigeria, for the Nigerian bank to takeover Standard Chartered Bank Cameroon

 “A Smooth Transition “

Meanwhile, in the communiqué that was issued by Standard Chartered Bank in Douala, Cameroon, on December 5, 2025, the General Manager of Standard Chartered Bank Cameroon, Anna Asonganyi, said all along the process of the transfer of the bank to the new proprietor, Access Bank, their priority was to ensure a smooth transition of the bank’s customers and employees, who are at the centre of all what they do. “We are convince that that with Access Bank, our customers and collaborators will continue to benefit from the same level of service and advantages, that they have been used to’, she  assured.

In fact it is said that during the period of transition, July 2023 to December 2025, that is a period of over two years, Standard Chartered Bank and Access Bank worked in perfect synergy to integrate the  agencies,  personnel and customers of Standard Chartered Bank Cameroon, into the existing network of Access Bank.

Though Standard Chartered Has Left Cameroon, It Will Not Forget The Country

Meanwhile in the December 5, 2025 release of Standard Chartered Bank in Douala, Cameroon, the CEO of Standard Chartered Bank in Africa, Kariuki Ngari, who declared in the release that Standard Chartered Bank Cameroon had from that day (December 5, 2025), been officially transferred to Access Bank, said the two financial institutions worked in total collaboration during the transition period, to ensure a smooth acquisition of Standard Chartered Bank Cameroon by Access Bank Plc.  “As we finalize these transition towards Access Bank, I wish to thank the regulators in Cameroon for their support”, he said.

The CEO assured that the despite the fact that Standard Chartered Bank has left Cameroon, the financial institution will happily continue to facilitate, as well as serve, as a passage for the flow of international capital towards Cameroon.  Thus, though Standard Chartered Bank has left Cameroon, the financial institution will not forget the country.

Certain Issues However Remain Unclear

Meanwhile, the December 5, 2025 communiqué was for example not clear, on whether the Article 42, which Cameroon’s Minister of Labour and Social Security, Gregoire Owona, insisted on its respect last year, was actually applied in the transition process. As the minister explained, Article 42 gave each employee of Standard Chartered Bank Cameroon, the liberty to decide whether to continue under a new proprietor, or whether to leave with his rights paid.

Article 42 is meant to protect the interest of employees or workers.  If Company A employs some persons, and tomorrow the shareholders or proprietors of the company decide to sell it to Company B, the employees should have the individual right to decide whether to move and henceforth become an employee of Company B, or whether to leave and have his rights paid.  A worker should not just be bundled from one company to the other. The worker might have accepted the job that was offered him in Company A, because of his appreciation or the reputation of the proprietor or management of Company A, but may not like to work for Company B, for one reason or the other.

However, since no complaint has been heard again, the transaction probably ended up well for all.