Société Générale has agreed to sell its 60.22% stake in Société Générale Ghana, with Morocco’s Attijariwafa Bank buying 55.22% and Ghana’s Social Security and National Insurance Trust (SSNIT) the remaining 5%, the bank said on 1 October. The deal still needs approval from the Bank of Ghana and other authorities. The French group has already sold its units in Burkina Faso and Mauritania as it withdraws from the continent. Attijariwafa gains a 40-branch network, extending Moroccan banks’ push into West Africa, while SSNIT, the state pension fund, raises its stake. French lenders’ retreat leaves African groups to take over their customers and markets.
Sources
- Nairametrics: https://nairametrics.com/2026/10/02/societe-generale-sells-60-22-ghana-stake-to-attijariwafa-bank-ssnit/
- Pulse Ghana: https://www.pulse.com.gh/story/societe-generale-exit-ghana-attijariwafa-bank-stake-sale-2026100111242752923
- The Ghana Report: https://theghanareport.com/business/societe-generale-group-signs-agreement-to-sell-ghana-subsidiary-to-attijariwafa-bank/
- 3News: https://3news.com/news/ssnit-welcomes-additional-5-stake-in-soci-t-g-n-rale-ghana