Attijariwafa to Buy 55% of Société Générale Ghana
Morocco's Attijariwafa Bank will buy 55.22% of Société Générale Ghana and pension fund SSNIT 5%. Regulators must still approve, and no price was disclosed. The post Attijariwafa to Buy 55% of Société Générale Ghana appeared first on The Rio Times .
Ghana's Attijariwafa Bank has agreed to purchase 55.22% of Société Générale Ghana's shares, while the nation's state pension fund SSNIT will acquire an additional 5%. The French bank had a 60.22% stake in the Ghanaian lender before the deal. The transaction, announced on 1 October 2026, is awaiting approval from financial and regulatory authorities, and the final price remains undisclosed.
Société Générale Ghana operates 40 branches in 24 cities, with around 500 employees. In 2025, the bank reported a net banking income of GH¢1.36 billion (approximately US$34 million) and a net profit of GH¢397 million, equivalent to US$116 million at the exchange rate of 11.72 cedis per US dollar. This acquisition sees Attijariwafa, a Moroccan banking group with operations in over 25 countries, joining forces with Ghana's state pension fund, which increases its shareholding from 19.36% to 24.36%. The deal still needs regulatory sign-off before the transfer of ownership is complete.
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