Unlike that address, the Société Générale handle involves the parent firm disposing of its complete controlling worry in the subsidiary.
The proposed sale will so outcome in a comprehensive alter of controlling ownership once the required approvals are secured, including Attijariwafa Bank taking the majority attitude and SSNIT increasing its display occupy.
Attijariwafa Bank, a Moroccan pan-African banking fixed, will acquire the larger 55.22% portion, although SSNIT will receive a additional 5% stake.
- “Attijariwafa Bank will acquire a 55.22% stake in the Ghanaian bank, although the Social Security and Countrywide Insurance Trust (SSNIT) will secure a additional 5% stake,” the document read in component.
- Together, the two buyers will purchase the complete 60.22% stake at the moment held by Société Générale Fixed.
- Attijariwafa Bank will consequently become the majority shareholder in the Ghanaian bank, whereas SSNIT will raise its available consideration.
- Société Générale Category’s exit means the French banking established will no longer hold an ownership stake in Société Générale Ghana once the operation is completed.
The proposed sale forms portion of Société Générale Category’s decision to divest from the Ghanaian organization and brings a modern strategic shareholder into the bank.
Attijariwafa Bank will take over the activities now operated by Société Générale Ghana, including its consumer portfolios and employees.
Société Générale Ghana Changes Ownership
The handle will entail a transform in ownership of an provide banking operation rather than the creation of a fresh bank or the closure of the current organization. The proposed sale, nevertheless, is not yet final and remains subject to the usual conditions and approval from the pertinent financial and regulatory authorities.
- Société Générale Ghana at the moment operates a network of 40 branches and outlets.
- Attijariwafa Bank will become the majority shareholder once the required approvals are obtained.
- SSNIT will elevate its display draw through means of the acquisition of the added 5% stake.
- The acquire will change Société Générale Ghana’s operations, client portfolios and employees to the novel majority shareholder.
The transform in ownership will accordingly place an founded banking network under fresh majority ownership, whilst the firm continues operating theme to the substance regulatory requirements.
Ghana Banking Sector Sees Ownership Changes
Changes in ownership have been a recurring attribute of Ghana’s banking sector, together with transactions involving both foreign investors and nearby institutions subject to regulatory approval.
- In November 2013, Nairametrics reported that FirstBank completed the acquisition of 100% of ICB Ghana as section of its wider acquisition of Worldwide Commercial Bank’s operations in Ghana, Sierra Leone, Guinea and The Gambia.
- In May, Cameroon acquired Société Générale’s 58.1% area unit stake, during the time that Vista Group bought Société Générale Burkina Faso persist year and a consortium led by Enko Assets took over the French lender’s Mauritanian enterprise.
- Seeing that 2022, Benchmark Chartered has exited multiple African markets, including Zimbabwe, Angola, Jordan, Lebanon, Zambia and Tanzania.
- In July 2018, Nairametrics reported that the Bank of Ghana annulled the acquisition of a 51% stake in Agriculture Development Bank by Belstar Resources, Starmount Development Enterprise, SIC Financial Services and EDC Investments once finding that the handle had not received the required key bank approval.
What you should be aware of
A greater current sample involved Connection Bank Ghana, where the ownership organization changed free from the parent enterprise giving up regulation of the subsidiary. Nairametrics reported on July 19, 2026, that Admission Bank Plc sold 12.09 million shares, representing 7.44% of Entry Bank Ghana, to pension resources, institutional investors and high-net-worth individuals.
The sale reduced Availability Bank Plc’s holding from 93.40% to 85.96% later than receiving regulatory clearance, including a no-objection from the Bank of Ghana.
Société Générale Unit has agreed to market its 60.22% stake in its Ghana unit to Attijariwafa Bank and the country’s status pension sponsor.
According to a Citi Newsroom announce, the disclosure was contained in a allege by Société Générale Category to the Ghana Stock Exchange.
Under the agreement, Casablanca-based Attijariwafa Bank will secure a 55.22% stake, whereas the Social Security and Nationwide Insurance Trust (SSNIT) will acquire a additional 5%, bringing the whole stake up for sale to 60.22%.
The address will see Attijariwafa Bank become the fresh majority shareholder and take over Société Générale Ghana’s operations, client portfolios and employees, area to the required financial and regulatory approvals.
Attijariwafa Bank Buys Ghana Stake
The proposed receive will hand over Société Générale Group’s controlling consideration in Société Générale Ghana to two modern shareholders.
Source: Société Générale sells 60.22% Ghana stake to Attijariwafa Bank, SSNIT
