Societe Generale Group has signed an agreement to divest its entire 60.22% stake in Societe Generale Ghana Plc. The sale will transfer 55.22% of the bank to Attijariwafa Bank, a Pan‑African banking group, while the Social Security and National Insurance Trust (SSNIT) will acquire a 5% stake.
Under the terms, Attijariwafa Bank will assume all of Societe Generale Ghana’s activities, including its client portfolios and staff. The transaction will remove Societe Generale Group from ownership of the Ghanaian subsidiary and introduce a new strategic shareholder.
The deal remains subject to the fulfillment of standard conditions precedent and the approval of relevant financial and regulatory authorities. Completion will depend on securing the necessary regulatory and other approvals.
Societe Generale Ghana, one of the country’s leading banks, operates 40 networked branches and offers retail and corporate clients a range of innovative products such as factoring, finance lease, cash management, foreign exchange hedging, consumer credit loans and bill payments. The bank has long been recognised for supporting individuals and businesses of all sizes to reach their full potential.
Further details on the transaction will be released once the regulatory process concludes.
