Founder and Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has urged that any sale of Standard Chartered Bank Ghana's retail banking business should be made to a Ghanaian-owned company.

In a Facebook post on Friday, June 26, Dr Nduom said local businesses should be given the opportunity to take over the bank's retail operations if Standard Chartered decides to sell them.

"Make no mistake about this: if Standard Chartered is selling its retail banking business, the buyer should be an indigenous Ghanaian company," he wrote.

Although he did not explain his reasons in detail, his comments have sparked fresh discussions about the role of local ownership in Ghana's banking sector. Many industry observers believe Ghanaian financial institutions should be given greater opportunities to grow and compete alongside multinational banks.

Dr Nduom's statement comes after reports suggested that Standard Chartered is reviewing parts of its global business strategy, including its retail banking operations in some countries. However, the bank has not officially announced any plans to sell its retail business in Ghana.

The discussion also comes at a time when Ghana continues to focus on strengthening its financial sector following the banking reforms and consolidation carried out by the Bank of Ghana in recent years.

Dr Nduom has long supported the growth of indigenous businesses and has consistently advocated for policies that promote local ownership across key sectors of the economy.

His latest remarks are particularly significant following his recent legal victory involving GN Savings and Loans. A court ruled in favour of restoring the institution's licence, marking an important development in the long-running dispute that followed Ghana's financial sector clean-up.

Should Standard Chartered eventually decide to sell its retail banking business in Ghana, the transaction would require approval from the Bank of Ghana. It is also expected to attract interest from both local and international financial institutions.

Dr Nduom's comments are likely to fuel further debate over how Ghana can balance foreign investment with stronger local participation in its banking industry.