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%. This represents a rise from the previous holding of 19.36%. The increase was made possible through the completion of the acquisition of Societe Generale Group's 60.22% controlling stake by Attijariwafa Bank and SSNIT.
SSNIT expressed gratitude to the Government of Ghana, particularly the Minister for Finance, for their assistance in securing the additional stake. The Trust believes this transaction will help protect and grow contributors' retirement assets while supporting the long-term development and stability of the bank. Moreover, it acknowledges the importance of increasing local ownership in a major financial institution, thereby fostering greater participation of Ghanaian workers, pensioners, and institutions in the country's financial sector.
SSNIT praised 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.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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