Bank of Ghana Grants No Objection to Attijariwafa Bank’s Takeover of Société Générale Ghana
Bank of Ghana issued a No Objection to Attijariwafa Bank acquiring 55.22% of Société Générale Ghana
In Brief
- •Bank of Ghana issued a No Objection to Attijariwafa Bank acquiring 55.22% of Société Générale Ghana
- •SSNIT will acquire an additional 5% stake, raising its holding to 24.36%
- •The transaction ends Société Générale Group’s 60.22% controlling stake, ending over two decades of ownership
- •Approval still pending from the Securities and Exchange Commission for the listed company
- •No objections were raised by existing shareholders
Why It Matters
The approval marks a significant shift in Ghana’s banking landscape, bringing a major Moroccan banking group into a market long dominated by European and local players. The influx of capital and expertise could enhance competition, potentially lowering costs and improving services for corporate and retail customers. Job protection assurances and the retention of key Ghanaian management aim to mitigate disruption during the transition.
Key Details
- Bank of Ghana Decision Date
- 2026-10-05
- Attijariwafa Ownership %
- 55.22%
- SSNIT Additional %
- 5%
- SSNIT Total %
- 24.36%
- Société Générale Stake Sold
- 60.22%
- Number of Branches
- 40
Original Reporting & Sources
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