Societe Generale Group has signed an agreement with Morocco-based Attijariwafa Bank to sell its majority stake in Société Générale Ghana, marking a significant development in Ghana’s banking sector.
Under the terms of the agreement announced on October 1, 2026, Societe Generale Group will divest its entire 60.22 percent shareholding in Société Générale Ghana.
Attijariwafa Bank is expected to acquire a 55.22 percent stake, while the Social Security and National Insurance Trust (SSNIT) will purchase an additional 5 percent stake.
The transaction will see Attijariwafa Bank assume control of all activities operated by Société Générale Ghana, including its customer portfolios and workforce.
However, completion of the deal remains subject to customary conditions precedent and approvals from the relevant financial and regulatory authorities.
Société Générale Ghana is among the country’s leading banks, operating a network of 40 branches and outlets nationwide. The bank serves both retail and corporate customers with a range of financial products and services designed to meet evolving customer needs.
Over the years, the bank has been recognized for introducing innovative banking solutions in Ghana, including factoring, finance leasing, cash management, foreign exchange hedging, consumer credit loans and bill payment services.
The proposed acquisition strengthens Attijariwafa Bank’s footprint in Africa and signals a strategic shift in ownership for one of Ghana’s established banking institutions.
Once completed, the transaction is expected to usher in a new phase for the bank under the leadership of the Pan-African banking group.
The announcement did not disclose the financial value of the transaction.
Source: businesspostonline
