Access Bank Tanzania Completes Acquisition of Standard Chartered Bank`s Consumer, Private, and Business Banking Division

Access Bank Tanzania is expanding its national footprint, enhancing private and business banking services, and deepening financial inclusion across Tanzania.

Dar es Salaam, June 23, 2025 – Access Bank Tanzania today announced the successful completion of its acquisition of the Consumer, Private, and Business Banking division of Standard Chartered Bank Tanzania, following receipt of all required regulatory approvals.

This transaction marks a significant milestone in Access Bank Tanzania’s evolution as a full-service commercial bank delivering inclusive, secure, and digitally driven financial services to individuals, entrepreneurs, and businesses across the country.

"This acquisition is not just about growth—it is about strengthening our promise to provide more Tanzanians with access to world-class, customer-focused banking solutions," said Imani John, Managing Director of Access Bank Tanzania. "By combining Standard Chartered’s legacy in private and business banking with Access Bank’s innovation-led approach and pan-African reach, we are creating a stronger platform for inclusive financial empowerment."

With this acquisition, Access Bank Tanzania has significantly expanded its reach and capacity to support the country’s financial inclusion agenda. The Bank will deliver tailored financial services that reflect the evolving needs of Tanzania’s diverse population including the unbanked, high-net-worth individuals, SMEs, women and youths.

Key Benefits of the Acquisition:

• Wider Range of Services:Clients will enjoy a more comprehensive suite of retail and business banking solutions, including improved access to digital platforms, savings and lending products, trade finance, SME financing, and investment services.
• Dedicated Support for High-Net-Worth Clients: Access Bank Tanzania now offers enhanced private banking services, including bespoke wealth management, multicurrency investment options, and exclusive relationship management. Clients will also benefit from seamless cross-border banking through Access Bank Group’s presence in 24 markets.
• Empowering SMEs: The Bank is expanding its support for small and medium-sized enterprises through sector-focused financing, working capital solutions, and the PrimusPlus platform; a secure and efficient internet banking tool. Additional services include trade finance, advisory, and financial literacy support to help SMEs grow and integrate into regional value chains.
• Advancing Women’s Economic Participation: Through the W Initiative, Access Bank Tanzania is committed to empowering women with targeted loan programs, business training, and market access opportunities designed to support female entrepreneurs at every stage of growth.
• Customer-Centric Experience: A seamless transition is being prioritised, with dedicated relationship teams and support channels in place to ensure continued service quality and confidence.
• Driving Innovation: Access Bank is deepening its digital offering through platforms like the AccessMore mobile app, USSD banking, and PrimusPlus for business and SME clients; designed to make banking faster, simpler, and more inclusive.

"Tanzania’s economy is vibrant and full of potential, but many communities remain financially underserved," Mr. John added".  This integration allows us to better serve key client segments with solutions that are not only accessible but also empowering. We welcome our new clients to the Access Bank family, and together, we will help shape a stronger, more inclusive financial future for Tanzania." Access Bank Tanzania is a subsidiary of Access Bank PLC, Africa’s largest bank by customer base, with presence in 24 global markets including 16 across Africa. The acquisition solidifies Access Bank Tanzania’s role as a key player in the country's banking sector, driving innovation, deepening inclusion, and unlocking economic potential for the benefit of all Tanzanians

For more information, contact the undersigned.
Barbara Ezeife
Head Marketing and Corporate Communications
Access Bank African Subsidiaries
+2348188615735
Email: barbara.ezeife@accessbankplc.com

About Access Bank Tanzania
Access Bank Tanzania, a subsidiary of Access Bank PLC, is a full-service commercial bank licensed by the Bank of Tanzania and strategically positioned to deliver financial services that drive inclusive growth across Tanzania’s economy. The Bank serves a diverse customer base comprising individuals, SMEs, and corporates in Dar es Salaam, Mwanza, Arusha, and Dodoma. Its reach is further extended through 936 Access Wakala agents and 98 BancEasy Satellite outlets, enabling it to deliver convenient and secure banking services to customers in both urban centres and underserved communities.

Access Bank Tanzania became part of the Access Bank Group in 2024 following the successful acquisition and integration of African Banking Corporation Tanzania (formerly BancABC Tanzania). This strategic move forms part of Access Group’s broader growth agenda to build a strong pan-African banking network and reinforce its position as the continent’s gateway to the world. As a member of one of Africa’s largest financial institutions with presence in 24 countries across three continents, over 700 branches and service outlets, and a customer base exceeding 63 million, Access Bank Tanzania leverages global expertise, innovative technology, and strong governance frameworks to deliver world-class banking solutions tailored to the local market.

The Bank offers a wide range of services structured across five key business segments: Personal, Business, Commercial, Operations & IT, and Corporate & Investment Banking. By combining robust digital platforms with a customer-first approach, Access Bank Tanzania continues to improve accessibility, drive financial inclusion, and empower its customers to achieve more. It has made significant investments in agency banking, mobile and internet banking, and other alternative delivery channels, bringing modern banking to communities that were previously excluded from the formal financial system.

Aligned with the Access Bank Group’s broader sustainability agenda, Access Bank Tanzania integrates responsible and ethical practices across its operations. The Bank is committed to fostering economic development that is not only profitable but also socially impactful and environmentally responsible.

At the heart of its operations are the values that define the Access brand: Leadership, Excellence, Empowered Employees, Passion for Customers, and Innovation. These core values shape the Bank’s culture, drive its performance, and guide how it engages with customers, employees, regulators, and the communities it serves.

In recognition of its progress, Access Bank Tanzania is a trusted financial partner and a catalyst for inclusive growth in the country’s evolving banking landscape.