Sino-African joint ventures (JVs) are part of a developing relationship between China and African nations that presents opportunities as well as challenges. The ICBC Standard Bank Plc JV provided an opportunity for the South African Standard Bank Group to realize proceeds that would release capital to further its growth strategy across the African continent. China’s Industrial and Commercial Bank of China entered into the ICBCS JV to elevate its global markets capabilities. In recent years, the SB Group has wished to exit the ICBCS JV but is restricted from doing so by the terms of its Sale and Purchase Agreement with ICBC. This case study affords insights into some of the challenges of exiting a Sino-African banking JV agreement and explores the multifaceted impacts of Sino-African banking JVs. This knowledge is vital for informed decision-making by policymakers, businesses, and other stakeholders involved in these collaborations. The primary sources used in the case study were shareholder cautionary announcements, the Sale and Purchase Agreement, annual reporting statements, and press releases.