Société Générale Ghana set for new majority owner

Société Générale Ghana is set to have a new majority shareholder after its parent company, Société Générale Group, agreed to sell its stake in the bank to Morocco-based Attijariwafa Bank.

Société Générale Group currently owns 60.22% of Société Générale Ghana.

Under the agreement, Attijariwafa Bank will acquire 55.22% of the shares, while the Social Security and National Insurance Trust (SSNIT) will acquire the remaining 5%.

The deal will transfer control of the bank’s operations to Attijariwafa Bank, including its customer accounts and employees.

However, the transaction is not yet final. It must first meet certain conditions and receive approval from the relevant financial and regulatory authorities.

Once the approvals are obtained, Attijariwafa Bank will become the majority shareholder of Société Générale Ghana.

MA