Societe Generale Group agrees to sell Ghana subsidiary to Attijariwafa Bank
Société Générale Group has signed an agreement with pan-African banking group Attijariwafa Bank to sell its majority stake in Société Générale Ghana.
The Société Générale Group has reached an agreement to sell its majority stake in its Ghanaian subsidiary, Société Générale Ghana, to pan-African banking group Attijariwafa Bank. This divestment involves Société Générale Group relinquishing its entire 60.22% ownership of the Ghanaian entity, while Attijariwafa Bank will assume a 55.22% stake.
The remaining 5% of the company will be acquired by the Social Security and National Insurance Trust (SSNIT). Upon the successful completion of this transaction, Attijariwafa Bank will become the new majority shareholder of Société Générale Ghana, inheriting all of the company's operations, client portfolios, and employees. The divestment process is contingent upon the fulfillment of customary conditions and approval from the necessary financial and regulatory authorities.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
