By Julius Barigaba
Reporter in Kampala, Uganda
Nation Media Group
Uganda’s central bank has approved the sale of Standard Chartered Bank’s wealth and retail banking business to Absa, clearing a key regulatory hurdle for a transaction aimed at reshaping the country’s banking landscape.
In a notice to customers on Monday, StanChart said the transaction “has received the necessary regulatory approval from Bank of Uganda,” allowing the two lenders to move to the next phase of the acquisition process.
