Who is Attijariwafa Bank set to take over majority stake in Société Générale Ghana?

Société Générale Group has recently announced an agreement to sell its majority stake in Société Générale Ghana to Attijariwafa Bank, a Moroccan international financial services group. The bank, headquartered in Casablanca, aims to bolster its presence in Ghana's banking sector as part of its strategy to expand across Africa.

Attijariwafa Bank was formed in 2004 through the merger of Banque Commerciale du Maroc and Wafabank, two prominent financial institutions in Morocco. The bank has since grown to become a major player in the Moroccan financial sector, consistently ranking among the country's leading banks by assets and market share. Its origins trace back to 1904, and it has played a significant role in the modernization of Morocco's financial system and the development of its national economy and industrial base.

Attijariwafa Bank's success is attributed to its broad banking model, which serves retail, professional, corporate, and institutional customers, and its focus on diversification and technological innovation. The bank has expanded significantly beyond Morocco, currently serving about 12 million clients across 26 countries in Africa, Europe, and the Middle East. This expansion is part of the bank's broader strategy to establish itself as a leading financial institution on the continent.

The planned acquisition of Société Générale Ghana will strengthen Attijariwafa Bank's foothold in Ghana's banking market as it continues its growth across Africa. The bank's Chairman and Group CEO emphasized that the institution has leveraged its long history to build a universal banking model, driven by its history, innovation, and the commitment of its employees.