Published • loading... • Updated
Attijariwafa to Buy 55% of Société Générale Ghana
Attijariwafa Bank will take control of 55.22% of the lender, while SSNIT raises its stake to 24.36% to increase local ownership.
- Moroccan banking group Attijariwafa Bank signed an agreement to acquire a majority stake in the Soci unit in Ghana, expanding its presence in West Africa.
- Established in 1975 as Security Guarantee Trust Limited, the bank operates 40 branches across 24 cities, ending the French financial group's ownership.
- Based in Accra, the bank reported 2025 assets of GHS9 and net profit of GHS397, with market capitalisation standing at GHS3 as of September 29, 2026.
- Pension fund SSNIT will acquire an additional 5% stake, raising its holding to increase local ownership in the financial sector.
- Led by Mohamed and Kettani, the deal remains subject to regulatory approvals in Ghana and Morocco, supporting the group's expansion into English-speaking Africa.
Insights by Ground AI
19 Articles
19 Articles
The acquisition of Société générale Ghana marks a first strategic incursion for the Moroccan group in an English-speaking zone. But the operation remains modest and could be faced with monetary uncertainties.
French banking giant exits Ghana as North Africa’s largest banking group takes over in major deal
French banking giant Société Générale is exiting Ghana after agreeing to sell its entire 60.22% controlling stake in Société Générale Ghana to Morocco’s Attijariwafa Bank and Ghana’s Social Security and National Insurance Trust (SSNIT).
·New York, United States
Read Full Article
Attijariwafa Bank to acquire majority stake in Société Générale Ghana
Morocco’s Attijariwafa Bank has agreed to acquire a 55.22 percent stake in Société Générale Ghana, expanding the North African lender’s read more Attijariwafa Bank to acquire majority stake in Société Générale Ghana
·Lagos, Nigeria
Read Full Article
Coverage Details
Total News Sources19
Leaning Left2Leaning Right2Center1Last UpdatedBias Distribution40% Left, 40% Right
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
Factuality
To view factuality data please Upgrade to Premium
