Société Générale Group is set to exit Ghana after agreeing to sell its entire 60.22% stake in Société Générale Ghana to Morocco-based pan-African banking group Attijariwafa Bank and Ghana’s Social Security and National Insurance Trust (SSNIT).
Under the agreement announced on Thursday, October 1, 2026, Attijariwafa Bank will acquire 55.22% of the Ghanaian bank, while SSNIT will increase its existing holding by a further 5%. The transaction will make Attijariwafa Bank the new majority shareholder once the required approvals are obtained.
The proposed deal will result in Société Générale Group ending its ownership of the Ghanaian subsidiary, which has been under its control through SG Financial Services Holding.
Following completion, Attijariwafa Bank will take over the activities currently operated by Société Générale Ghana, including its customer portfolios and employees.
The transaction is, however, subject to customary conditions and approval from the relevant financial and regulatory authorities before it can be completed. Until those conditions are met, Société Générale Ghana will continue operating under its existing ownership structure.
Société Générale Ghana currently has 40 branches and outlets across the country and provides retail and corporate banking services.
The planned exit follows Société Générale Group’s decision in May 2024 to undertake a strategic review of its Ghanaian business. At the time, the group said any concrete decision would be communicated in accordance with applicable requirements.
The latest agreement therefore marks a change in the ownership of one of Ghana’s established banks, with Attijariwafa Bank set to assume majority control and SSNIT increasing its stake after regulatory clearance.