From The Rio Times · Samuel Ncube · · 1m 20s
Attijariwafa Buys 55% of Société Générale Ghana
Moroccan bank Acquires 55% Stake in Ghanaian Bank.
In brief
Moroccan bank Acquires 55% Stake in Ghanaian Bank. Attijariwafa Bank of Morocco will buy 55.22% of Société Générale Ghana, with Ghana’s state pension fund SSNIT taking 5% as the deal awaits Bank of Ghana approval. Originally reported by The Rio Times.
Quick answers
- Why Moroccan Bank?
- Attijariwafa, strong in French-speaking Africa, aims to expand into English-speaking regions with confidence in Ghana’s economic growth.
- What’s Next?
- The deal requires Bank of Ghana approval and a price disclosure before ownership transfers to Attijariwafa.
- What is the key takeaway from Attijariwafa Buys 55% of Société Générale Ghana?
- Attijariwafa Bank of Morocco will buy 55.22% of Société Générale Ghana, with Ghana’s state pension fund SSNIT taking 5% as the deal awaits Bank of Ghana approval.
Deal Announcement
Moroccan bank Attijariwafa agreed to buy 55.22% of Société Générale Ghana, with Ghana’s state pension fund SSNIT taking 5%.
Current Stake
Société Générale Ghana’s 60.22% stake is being sold, raising SSNIT’s holding from 19.36% to 24.36%.
Bank Details
Société Générale Ghana has 40 branches across 24 cities and 500 employees, with 2025 net profit of GH¢397 million.
Customer Impact
Banking operations continue normally as the deal awaits Bank of Ghana approval, with no changes to accounts yet.
Why Moroccan Bank?
Attijariwafa, strong in French-speaking Africa, aims to expand into English-speaking regions with confidence in Ghana’s economic growth.
What’s Next?
The deal requires Bank of Ghana approval and a price disclosure before ownership transfers to Attijariwafa.
Customer Safety
Analyst Dr Richmond Atuahene says deposits remain as safe as with previous banks, with no immediate disruptions.
“as safe as it was with SG and as it was with Social Security Bank”
Unanswered Questions
Price, closing date, minority shareholder treatment, and the Société Générale name remain undisclosed as the deal awaits approval.
The big picture
Attijariwafa Bank of Morocco will buy 55.22% of Société Générale Ghana, with Ghana’s state pension fund SSNIT taking 5% as the deal awaits Bank of Ghana approval.
