Banking & Finance

SG Ghana shares: BOG to demand list of all interested parties

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The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has announced that the central bank will require a comprehensive list of all individuals and institutions interested in purchasing shares of Societe Generale (SG) Ghana.

This follows reports that SG Group in France, which owns 60.22 per cent of SG Ghana, is planning to sell its shares and exit the country.

Addressing inquiries during a press briefing to announce the policy rate, Dr. Addison revealed that the Bank of Ghana has already communicated with SG Bank’s subsidiary in Cote D’Ivoire, requesting detailed plans regarding the sale.

“I have had discussions with their office in Cote d’Ivoire, and I have complained that we don’t want to be surprised. We are hearing things but we want to see the long list of those that are interested in acquiring their shares. I have expressed those concerns to their office in Côte d’Ivoire. Hopefully, we will hear something from them soon,” he stated.

Dr. Addison clarified that the Bank of Ghana had not received any official communication from SG about the sale, which prompted the proactive approach to seek information directly.

“We have not officially received any information on that from SG, either from their group or office in Accra. We want to see the long list of those that are interested in acquiring their shares, so I have expressed those concerns. Hopefully, we will hear something from the group very soon,” he reiterated.

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