SSNIT increases stake in Société Générale Ghana to 24.36%
The Social Security and National Insurance Trust (SSNIT) has increased its shareholding in Société Générale Ghana to 24.36% after acquiring an additional 5% stake in the bank. The move forms part of the completion of Société Générale Group’s exit from its controlling 60.22% stake in the Ghanaian bank. SSNIT previously held a 19.36% stake and says […]
The Social Security and National Insurance Trust (SSNIT) has bolstered its ownership in Société Générale Ghana, raising its stake to 24.36% after acquiring an extra 5%. This move concludes Société Générale Group's exit from its 60.22% controlling share. SSNIT's previous stake was 19.36%. The increased investment is expected to fortify SSNIT's position, safeguard and grow Ghanaian workers' and pensioners' retirement assets, and foster local institutions' benefit from the banking sector's performance and growth.
The Trust also highlighted the government's support, particularly from the Minister for Finance, and praised the cooperation of Attijariwafa Bank, the Bank of Ghana, and the Securities and Exchange Commission. Société Générale Ghana now operates 40 branches across the country, offering retail and corporate banking services. SSNIT anticipates the investment will bolster the bank's long-term development and stability, aligning with its mandate to expand pension assets for contributors.
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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