SSNIT increases stake in Societe Generale Ghana to 24.36%
In a statement issued today, SSNIT said the development follows the completion of the acquisition of Société Générale Group’s 60.22% controlling stake in the bank by Attijariwafa Bank and SSNIT.
The Social Security and National Insurance Trust (SSNIT) has increased its ownership in Societe Generale Ghana to 24.36%, up from 19.36%. This development comes after the successful acquisition of Societe Generale Group's 60.22% controlling stake by Attijariwafa Bank and SSNIT. SSNIT expressed gratitude to the Ghanaian government, particularly the Minister of Finance, for their instrumental role in securing the additional stake and finalizing the transaction.
The Trust believes that this move will help safeguard and grow contributors' retirement assets while supporting the long-term development and stability of the bank. Additionally, the transaction promotes increased local ownership in a major financial institution, reflecting the importance of benefiting Ghanaian workers, pensioners, and institutions directly from the growth and performance of the country's financial sector.
SSNIT commended Attijariwafa Bank for its cooperation throughout the transaction and acknowledged the regulatory oversight provided by the Bank of Ghana and the Securities and Exchange Commission.
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