This article was produced with the support of Standard Chartered Bank
How would you describe the evolving needs and priorities of high-net-worth individuals across Africa and the Europe, the Middle East and Africa (EMEA) region?
Standard Chartered, a leading wealth manager in Africa, the Middle East and Asia, operates in the primary affluent centres of the Big 5 wealth markets – South Africa, Egypt, Nigeria, Kenya and Morocco. They account for 56% of Africa’s high-net-worth individuals (HNWIs) and over 90% of its billionaires.
HNWI clients seek structured solutions to grow, protect and pass on their wealth. We have strengthened our propositions and capabilities, adding global experiences, wealth planning, family advisory and trust services. We also evolved our managed investments business to help clients build foundational and opportunistic portfolios.
The region remains a hub for family businesses, many facing leadership transitions and intergenerational wealth transfers. Countries are implementing long-term economic transformation initiatives, attracting capital and talent. New industries, like technology and renewable energy have created significant wealth-generation opportunities.
We have a strong local presence and an international network to capture the structural tailwinds driving cross-border wealth flows. Our open product architecture allows us to collaborate and innovate with partners to offer best-in-class and first-to-market wealth solutions. We support our small business clients with their trade, working capital, and banking needs.
In what ways is Standard Chartered Private Bank tailoring its wealth management offering to meet the unique expectations of African HNWIs?
We view the increasing number of wealth management players in the region as a positive development for our clients. It gives us renewed impetus to drive innovation, deliver better service and greater investment choices. However, differentiation in private banking comes from deep client relationships, global connectivity and understanding multi-generational wealth needs – all of which are derived from our long track record.
We plan to invest $1.5bn in total over five years in our wealth and digital platforms, client centres, people and brand and marketing to accelerate income growth and returns. This will be funded by reshaping our mass retail business to focus on developing a strong pipeline of future affluent and international clients.
Families choose us for our global reach but local expertise. With a presence in 53 markets and a strong network, we provide access to international opportunities while ensuring wealth strategies align with local regulatory and economic conditions.
So, we are scaling up our differentiated service offerings, leveraging local custodian capabilities across Africa and the Middle East and the growing demand from financial institutions – and sustainable finance, Islamic banking and RMB internationalisation, embedded into our global business teams.
With increasing global volatility, how are your clients balancing wealth preservation with the desire for long-term growth?
HNWI and families in the region are redefining wealth to include family values and societal impact, not just financial assets. While capital preservation is important, a new generation is prioritising legacy-building and using their financial influence for change. Philanthropy is increasingly strategic, with more families creating foundations and aligning charitable efforts with business interests for impact.
At Standard Chartered, we help families navigate wealth by integrating wealth planning and governance advisory into our services, ensuring their legacy extends beyond financial returns. We understand managing generational wealth goes beyond financial returns. It’s about structuring assets for longevity, fostering responsible stewardship among future generations and creating a meaningful impact through philanthropy and sustainable investing.
What trends are you seeing in cross-border wealth flows, especially among the South Asian diaspora with assets or interests in Africa?
As wealth globalises, clients need flexible financial solutions that address immediate needs and cross-border requirements. We leverage our expertise and international network to provide tailored cross-border solutions. Our ability to integrate personal and business financial services across jurisdictions is a distinct advantage. By granting access to diverse offerings – investment advisory, structured lending, private market co-investment, family governance and legacy planning – we ensure our clients’ wealth is safeguarded and positioned for global growth.
This capability is vital for HNWIs in the region, many of whom are part of a global expatriate community connected to Asia, Europe, North America or Africa. With expertise in estate planning and cross-border investments, we provide tailored solutions for diverse client needs.
How important is succession planning to your clients in Africa, and how does your bank support multi-generational wealth strategies?
Historically, families handled succession informally. As businesses and wealth have grown more complex, many use family constitutions, governance frameworks, and estate planning to clarify wealth distribution and leadership transitions. Individuals and families now realise that as they accumulate wealth, they need to engage in succession and estate planning to organise their financial future.
As family businesses transfer to new generations, a structured succession plan can support continuity, stability and maintain wealth and values.
Sustainable investing is gaining traction globally – are African HNWIs showing growing interest in ESG or impact-driven portfolios?
African regulators have advanced environmental, social, and governance (ESG) standards and transparency, exemplified by the Johannesburg Stock Exchange’s mandatory integrated reporting since 2010.
Development finance institutions like the World Bank and International Finance Corporation, along with global asset managers, are embedding ESG criteria into their capital-allocation frameworks.
Increasing climate volatility, resource constraints, and social upheaval are pushing investors towards green energy, sustainable agriculture and tech-enabled impact solutions. These investments offer protection against downturns and growth opportunities, aligning financial performance with societal goals.
We are tackling scalability by developing blended finance solutions with development finance institutions, multilateral development banks and country platforms through a programmatic approach. By executing our sustainability agenda, we offer investors – including HNWIs – access to emerging market opportunities. Our integrated ESG approach and strong compliance culture distinguish us. We’re committed to mobilising $300bn in sustainable finance by 2030, addressing increasing ESG interest from stakeholders.
The Group has also developed partnerships and platforms. It remains a signatory in the Just Energy Transition Partnerships (JETPs), collaborating with clients to implement investment plans through project financing. At COP29, for example, Lesotho announced it appointed Standard Chartered and Standard Bank South Africa as joint financial advisers for the His Majesty King Letsie III Just Energy Transition Fund (HMKLIII JET Fund).
How is Standard Chartered integrating technology while maintaining a personalised client experience?
Client experience remains at the centre of our digital transformation. No doubt, technology is transforming the private banking sector, offering more personalisation, predictive analytics, and real-time decision-making. We combine advanced digital tools with expert advice to enhance client relationships rather than replace them.
Our digital-first approach offers real-time financial information, analytics, and a user-friendly experience, while personalised recommendations help clients make informed decisions. This technological advantage enables clients to navigate complex financial environments and seize new opportunities.
Most countries in the region, in particular Africa, have younger populations, and the adoption of digital technology will make emerging markets increasingly important to global growth. We plan to invest $1.5bn over five years in our wealth and digital platforms.
Looking ahead, what opportunities and challenges do you foresee in serving Africa’s expanding base of high-net-worth individuals?
Three main factors will shape private banking in the region: growing intergenerational wealth transfers, a focus on sustainable investment and the globalisation of family wealth.
The next generation has different perspectives. They’re familiar with technology, have global connections and prefer investments that make an impact. As a result, we are adapting our services to include green finance, venture capital and digital assets, alongside traditional advisory offerings.
The future of wealth management will be defined by those who integrate strong personal relationships, advanced digital technologies and a global outlook. This approach ensures wealth preservation, growth and value creation across generations.
