Societe Generale Group has signed an agreement with Pan-African banking group Attijariwafa Bank for the sale of its entire 60.22% stake in Societe Generale Ghana Plc.
The agreement, announced on Thursday, October 1, 2026, will see Attijariwafa Bank acquire a 55.22% stake in the Ghanaian bank, while the Social Security and National Insurance Trust (SSNIT) will acquire a further 5% stake.
“Societe Generale Group has signed an agreement with Attijariwafa Bank, a Pan-African banking group, which would result in the total divestment of Societe Generale Group’s shares (60.22%) in Société Générale Ghana,” the bank said in the statement.
The proposed transaction will transfer the ownership of the bank’s activities to Attijariwafa Bank, which will also take over its client portfolios and employees.
“Attijariwafa Bank would take over all activities operated by this subsidiary, as well as all client portfolios and employees within this entity,” the statement said.
The transaction is, however, subject to the fulfilment of customary conditions precedent and approval by the relevant financial and regulatory authorities.
“This divestment project is subject to the usual conditions precedent and the validation of the relevant financial and regulatory authorities,” Societe Generale said.
Societe Generale Ghana is one of the leading banks in Ghana, with 40 branches and outlets across the country.
The bank provides retail and corporate clients with banking products and services and has introduced offerings including factoring, finance leasing, cash management, foreign exchange hedging, consumer credit and bill payments.
The proposed transaction would bring an end to Societe Generale Group’s controlling shareholding in the Ghanaian bank, subject to regulatory approvals and completion of the transaction.
