SG Group signs $45 million dollar-agreement

The Societe Generale (SG) Group has signed a $45 million Loan Agreement with Government for the Accra Streets Asphalting project.

A statement issued by Mr Daniel Rex Danquah, the Communications Officer of the Group, said the Bank was happy to support Ghana’s road sector.

The signing of the agreement had come at an opportune time to support the Government to address some of the challenges in the road sector, particularly, the Accra Streets, it said.

The SG Group has invested in Ghana’s financial sector because of the stable political environment, prudent, and efficient management of the Ghanaian economy.

“Even with the current economic challenges, Societe Generale believes that with the pragmatic economic measures put in place by the Government the economy will bounce back on track,” the statement said.

As a development partner, Societe Generale has financed various Government of Ghana projects to the tune of USD500 million between 2009 and 2015.

Some of the projects include the Aboaze Thermal Plant; Fire Tenders for the Ministry of the Interior; Steel Bridges for the Ministry of Roads & Highways; E-Governance Project for the Ministry of Communication; GRIDCo Transmission Projects; and the participation in the Ghana Cocobod Cocoa Syndication from 1997 to date.

"It is our desire to partner the Ghanaian Government in the socio-economic development of this country and to strengthen the already cordial business relations that exist between the Societe Generale Group, Societe Generale Ghana, and the Government of Ghana in the years ahead," the statement said.

In Ghana, Societe Generale Ghana, which is the local subsidiary of Societe Generale, has 40 branches across the country.