KAMPALA, Uganda – Thousands of Standard Chartered Bank Uganda customers are set to officially become Absa Bank Uganda clients on Monday, Nov. 16, 2026, as the two financial institutions enter the final stage of a major transition in Uganda’s banking sector.
The transfer will mark the completion of Absa’s acquisition of Standard Chartered’s Wealth and Retail Banking business, bringing an end to the latter’s mainstream retail banking operations in Uganda.
The migration is scheduled to take place between Friday, Nov. 13, and Sunday, Nov. 15, during which affected customers will experience temporary disruptions to banking services as their accounts and related products are transferred to Absa.
From Monday, customers covered by the migration are expected to access their money and banking services through Absa’s branches, digital platforms and other service channels.
The transition follows an acquisition agreement announced in October 2025, under which Absa agreed to take over Standard Chartered’s retail and wealth banking portfolio in Uganda.
The transaction, which received regulatory approval from the Bank of Uganda, forms part of Standard Chartered’s broader strategy to concentrate on corporate and investment banking while withdrawing from selected retail banking markets.
However, Standard Chartered is not leaving Uganda entirely. The bank will retain its presence in the country, focusing on corporate and investment banking services.
For Absa, the acquisition represents an opportunity to expand its customer base, strengthen its wealth management business and increase its presence in Uganda’s competitive banking industry.
Banking services to be interrupted during migration
According to communications issued by the two banks, several Standard Chartered banking services will be unavailable during the migration weekend as the institutions complete the technical and operational transfer.
Affected services include mobile banking, customer support channels and various transactions that customers would ordinarily conduct through Standard Chartered’s platforms.
Customers have consequently been advised to make necessary financial arrangements before the transition begins, particularly those expecting to make urgent payments or withdraw cash over the weekend.
Absa has already started issuing new account numbers, debit cards and cheque books to eligible customers as part of preparations for the takeover.
Existing balances are expected to transfer automatically, meaning customers do not need to withdraw their savings or manually move funds to their new Absa accounts.
Other banking arrangements, including loans, standing orders, savings products, investments and insurance services, are also expected to continue under Absa, subject to the applicable transfer arrangements.
Customers are being encouraged to review communications from the banks to understand how their individual accounts and services will be affected.
What customers should expect
One of the biggest changes will be the shift from Standard Chartered’s digital banking platforms to those operated by Absa.
Customers will need to activate their Absa digital banking access using the instructions provided by the receiving bank.
Those who have not received their new cards, account details or onboarding instructions are advised to contact the banks through official communication channels.
Absa has also indicated that relationship management services will continue for eligible wealth banking customers, with some personnel transferring alongside the acquired business.
The transition has nevertheless raised concerns among some customers, particularly over banking charges, card delivery and the process of registering for new digital services.
Both institutions have encouraged customers experiencing difficulties to seek clarification through their official branches, contact centres and relationship managers.
Standard Chartered has been gradually discontinuing selected retail banking services ahead of the migration, with restrictions affecting certain transactions, account services and banking facilities.
The phased shutdown is intended to facilitate the transfer and reduce complications during the final migration period.
A significant shift in Uganda’s banking industry
The acquisition changes the competitive landscape of Uganda’s banking sector by transferring an established portfolio of retail and wealth banking customers from one international bank to another.
Absa is expected to benefit from the additional customer relationships, deposits, lending products and wealth management services acquired through the transaction.
For Standard Chartered, the move represents a change in business direction rather than a complete withdrawal from the Ugandan market.
Moses Rutahigwa, Absa Uganda’s director of Retail and Business Banking, has been among the senior executives communicating with customers about the transition, emphasising service continuity and access to support.
With the migration now approaching, attention will turn to how smoothly customers can access their accounts, complete transactions and adjust to Absa’s banking systems.
For thousands of Ugandans who have banked with Standard Chartered for years, Monday will mark the beginning of a new banking relationship, with Absa assuming responsibility for their transferred accounts and services.
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