French banking giant to exit Ghana after selling 60.22% stake

• Société Générale Group is set to exit Ghana after selling its 60.22% stake.

• Attijariwafa Bank will acquire 55.22%, while SSNIT will take 5%.

• The deal is subject to regulatory approvals and other conditions.

Under the agreement announced on October 1, 2026, Attijariwafa Bank will acquire a 55.22% stake in the Ghanaian bank, while 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 group said in a statement.

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The transaction will mark the end of Société Générale Group’s ownership of its Ghanaian subsidiary, subject to the completion of the required conditions and regulatory approvals.

Following the transaction, Attijariwafa Bank will take over the operations of Société Générale Ghana, including 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.

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The proposed divestment is subject to the usual conditions precedent and approval from the relevant financial and regulatory authorities before it can be completed.

Société Générale Ghana currently operates 40 branches and outlets across the country, providing banking services to retail and corporate customers.

The bank has introduced several products and services in Ghana, including factoring, finance lease, cash management, foreign exchange hedging, consumer credit loans and bill payments.

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Société Générale Group currently holds 60.22% of the bank’s total shareholding, with SSNIT and other shareholders holding the remaining shares.

Once the transaction is completed, Attijariwafa Bank will become the new majority shareholder of Société Générale Ghana, while Société Générale Group will have no remaining stake in the bank.