BoG clears Attijariwafa Bank’s takeover of Société Générale Ghana
The Bank of Ghana (BoG) has issued a “No Objection” to the proposed takeover of Société Générale Ghana by Morocco-based Attijariwafa Bank, Joy Business has learnt. The regulatory approval represents a major step towards completing the transaction, which will see Attijariwafa Bank become the majority shareholder of Société Générale Ghana. Sources with knowledge of the […]
The Bank of Ghana (BoG) has granted a "No Objection" to Attijariwafa Bank's proposed takeover of Société Générale Ghana, paving the way for the majority shareholder shift. This decision is influenced by Attijariwafa Bank's financial strength and the potential impact on Ghana's banking sector. The regulator assessed that none of the shareholders raised concerns about the transaction.
Attijariwafa Bank is expected to acquire a 55.22% stake, while SSNIT will gain an additional 5%. Once completed, Attijariwafa Bank will become the new majority shareholder, retaining existing operations and workforce. Société Générale Ghana, previously a 60.22% stakehold by Société Générale, currently operates with 40 branches across the country.
Written by urgent.news from Adom Online's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
