Societe Generale Ghana (formerly SG-SSB) has signed a $50 million Credit Facility Agreement with the Government of Ghana to finance the rehabilitation of the Ghana Government Missions abroad.
The Bank is one of the largest networked Banks in Ghana with over 40 Branches. Societe Generale Ghana is listed on the Ghana Stock Exchange and is a member of the Ghana Club 100 of the Ghana Investment Promotion Centre.
Societe Generale Ghana has more than 11,000 Business customers and 216,000 Retail Customers. As a subsidiary of Societe Generale Group present in 19 African countries, the Bank offers Universal Banking services to its clients and the opportunity to directly transact business in the sub-regional and African market.
Societe Generale Ghana is happy to support the rehabilitation of Ghana’s Missions abroad with this financing of $50 million. The signing of this Credit Facility Agreement has come at an opportune time to support the Ghana Government to address some of the challenges faced by the Ghana Foreign Missions.
It is Societe Generale Ghana’s desire to partner Ghana in the socio-economic development of the country and to strengthen the already cordial business relations that have existed for many years between the Societe Generale Group, Societe Generale Ghana and the Government of Ghana.
All observers acknowledge that there is rule of law and respect for human rights in Ghana and that the country’s democracy has deepened. Therefore as a true development partner of Ghana, Societe Generale Ghana and the Societe Generale Group have financed various Government of Ghana projects to the tune of USD600 million between 2009 and 2016.
Some of the projects Societe Generale has financed totally or as a participating bank in a syndication include the Aboadze Thermal Plant; Fire Tenders for the Ministry of Interior; Steel Bridges for the Ministry of Roads & Highways; E-Government Project for the Ministry of Communication; 2 GRIDCo Transmission Projects; the Accra Streets Asphalting; the Kwame Nkrumah and Kasoa Interchanges and the Ghana Cocobod Cocoa Syndication since 1997 to date.
Societe Generale has significantly invested in Ghana’s financial sector in view of the stable political environment and improving the economy with strong medium and long-term prospects.