Standard Chartered Bank has tapped seasoned Nigerian banker Dalu Ajene to lead its Africa operations, marking a significant leadership shake-up at the lender. Ajene takes the reins from Kariuki Ngari, the veteran Kenyan CEO who is set to retire on April 16 after a seven-year tenure.

The appointment signals a strategic shift for the bank. Ajene, previously the CEO of StanChart Nigeria, brings over 25 years of experience and is credited with navigating the volatile West African markets. He will now oversee the bank's client relationships and business development across the entire continent, a role previously held by Ngari alongside his Kenya duties.

End of an Era for Ngari

Kariuki Ngari's exit marks the end of a transformative chapter for StanChart Kenya. Since taking the helm in 2019, Ngari steered the bank through the COVID-19 pandemic and aggressively pivoted towards digital banking. "He led the transformation, with over 90% of transactions now done digitally," the bank's board noted in a tribute.

To fill the local void, the lender has appointed Birju Sanghrajka as the new CEO for Kenya, subject to regulatory approval. Sanghrajka, currently the Head of Corporate and Investment Banking, is an insider expected to maintain the bank's conservative but profitable trajectory.

• The New Guard: Dalu Ajene is an Ivy League alumnus (Dartmouth and Harvard) known for driving high-performance cultures. His immediate task will be to harmonize the bank's diverse African markets.
• The Local Successor: Birju Sanghrajka's promotion is a vote of confidence in local talent. He has served as an executive director since 2021 and understands the Kenyan corporate landscape intimately.

Strategic Implications

The splitting of the Kenya and Africa roles suggests the bank acknowledges the complexity of the continental market requires a dedicated focus. For Ajene, the challenge will be to replicate his Nigerian success on a pan-African scale, navigating currency fluctuations and regulatory headwinds in key markets like Kenya, Ghana, and South Africa.

As Ngari prepares to clear his desk, he leaves behind a leaner, more digital bank—but one that now looks to Lagos for its continental marching orders.