Standard Chartered Bank has elevated Dalu Ajene to Chief Executive Officer for its African operations, consolidating oversight of the bank’s regional coverage alongside his new responsibilities as Head of Africa Coverage. The announcement was made on Thursday, reflecting the bank’s strategic focus on leadership continuity and expansion across key African markets.
Ajene, who previously served as CEO of Standard Chartered Nigeria since April 2024, has been credited with steering the bank through robust financial performance. His tenure included successfully meeting the Central Bank of Nigeria’s N200 billion recapitalisation requirement for national commercial banks ahead of the March 2026 deadline. Prior to joining Standard Chartered, Ajene was CEO of Rand Merchant Bank Nigeria, bringing over 25 years of experience in global financial services to his new role.
The appointment underscores Standard Chartered’s commitment to leadership excellence and stakeholder confidence in Africa’s financial sector. Ajene, an alumnus of Dartmouth College with a Bachelor’s degree in Economics and an MBA from Harvard Business School, emphasised the strategic vision guiding his expanded role.
“I am honoured to lead Standard Chartered across Africa, building on our strong franchise and resilient teams. Our focus will remain on delivering client-centric services, leveraging technology, and mobilising capital to create sustainable value for our clients, stakeholders, and communities,” Ajene said in a statement.
The bank’s reorganisation also involves new leadership transitions. Ajene succeeds Kariuki Ngari, who served as CEO, Africa, and Sarmad Lone, formerly overseeing the bank’s Africa Coverage portfolio. The shift is designed to integrate Corporate & Investment Banking, Wealth & Retail operations, and regional coverage more effectively.
Standard Chartered noted that under Ajene’s guidance, the bank aims to accelerate growth in trade finance, structured solutions, and development finance. The bank plans to leverage technology to strengthen governance, enhance client experience, and support financial inclusion across emerging African markets.
Analysts say Ajene’s appointment comes at a crucial time as African banks navigate post-pandemic economic recovery, inflationary pressures, and increased competition from fintech innovators. His leadership is expected to reinforce corporate governance, operational efficiency, and regional market integration.
Ajene’s new mandate highlights the bank’s strategy to unify its operations under a single regional leadership structure, enabling faster decision-making, cross-market coordination, and strategic capital deployment across the continent.
