Societe Generale Group signs agreement to sell Ghana subsidiary to Attijariwafa Bank

Société Générale Group has reached an agreement to sell its majority stake in Société Générale Ghana to pan-African banking group Attijariwafa Bank. The deal involves the transfer of Société Générale Group's 60.22% stake in the Ghanaian subsidiary to Attijariwafa Bank, who will acquire a 55.22% stake. The Social Security and National Insurance Trust (SSNIT) will also become a shareholder, acquiring the remaining 5% of the company.

With this transaction, Attijariwafa Bank will assume full control of Société Générale Ghana's operations, client portfolios, and employees. The proposed divestment is pending the fulfillment of customary conditions and approval from relevant financial and regulatory authorities. This agreement represents a significant shift in the ownership structure of Société Générale Ghana, with Attijariwafa Bank poised to become the new majority shareholder following regulatory approval.