Stanchart Botswana Unit Lures Interest From South African Banks

Standard Chartered Plc has begun a process to sell its Botswana business and expects to get first bids by middle of the year, according to people familiar with the matter.

The business, which will include the corporate and investment bank, has drawn early interest from lenders including Nedbank Group Ltd., Absa Group Ltd., according to the people who asked not to be identified because the information is still private. Standard Bank Group Ltd. and FirstRand Ltd.’s First National Bank unit are also considering, said the people.