Société Générale agreed on 1 October to sell its entire 60.22% holding in Société Générale Ghana. Attijariwafa Bank will acquire 55.22%, while Ghana's Social Security and National Insurance Trust will take a further 5%. The transaction remains subject to customary conditions and approval by the relevant financial and regulatory authorities.
Attijariwafa Bank would take over the subsidiary's activities, client portfolios and employees when the deal completes. The transaction price was not disclosed in the announcement or subsequent reporting. Société Générale Ghana operates 40 branches and outlets across the country, according to the primary disclosure hosted by the Ghana Stock Exchange.
TRANSACTION STRUCTURE
The agreed structure would make Attijariwafa Bank the majority shareholder and complete Société Générale's divestment of its Ghanaian stake. SSNIT's additional interest gives the local institutional investor a larger role alongside the incoming banking group. Existing ownership does not change until the conditions and approvals are satisfied.
Société Générale Ghana is listed on the Ghana Stock Exchange and provides retail and corporate banking services. Médias24 reported that the lender earned net banking income of GHS1.356 billion and net profit of GHS397 million in 2025. It reported total assets of GHS9.7 billion and equity of about GHS2.6 billion at the end of that year.
EXPANSION AND EXIT
The agreement would give Morocco-based Attijariwafa Bank a direct banking presence in Ghana and deepen its exposure to English-speaking West Africa. BusinessDay reported that the group serves about 12 million customers across 26 countries. For Société Générale, completion would end its ownership of the Ghana subsidiary while transferring the whole operating business to the buyer.
The next milestones are the financial, regulatory and stock-market approvals required in Ghana and Morocco. Until those clearances are obtained, the transaction remains an agreed but uncompleted acquisition. Investors will also watch for disclosure of the consideration and an expected completion timetable.