SSNIT welcomes additional 5% stake in Société Générale Ghana
The transaction also advances greater Ghanaian participation in the banking sector by increasing local ownership in a major financial institution
The Social Security and National Insurance Trust (SSNIT) has announced it has acquired an additional 5% stake in Société Générale Ghana. This raises SSNIT's ownership from 19.36% to 24.36%. The Trust says the acquisition follows the completion of Attijariwafa Bank and SSNIT's purchase of Société Générale Group's 60.22% controlling stake in the bank.
SSNIT expressed gratitude to the Government of Ghana, particularly the Minister of Finance, for their role in securing the increased stake and finalizing the deal. This larger shareholding strengthens SSNIT's investment on behalf of Ghanaian workers and pensioners. It bolsters the Trust's ability to protect and grow contributors' retirement funds while promoting the long-term growth and stability of the bank.
The transaction also boosts Ghanaian ownership in the banking sector by increasing local participation in a major financial institution, highlighting the importance of ensuring that Ghanaian citizens directly benefit from the country's financial sector growth and performance.
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