Société Générale Group has signed an agreement to sell its 60.22% stake in Société Générale Ghana to pan-African banking group Attijariwafa Bank and the Social Security and National Insurance Trust (SSNIT).
Under the agreement, Attijariwafa Bank will acquire a 55.22% stake in the Ghanaian subsidiary, while SSNIT will purchase the remaining 5%.
The transaction will see Attijariwafa Bank take over all operations of Société Générale Ghana, including its client portfolios and employees.
The proposed sale is, however, subject to the fulfilment of customary conditions and approval from the relevant financial and regulatory authorities.
Once the transaction receives the necessary approvals, Attijariwafa Bank will become the majority shareholder of Société Générale Ghana, marking a significant shift in the bank’s ownership structure.
