Société Générale has provided the Bank of Ghana (BoG) with a complete list of individuals and entities interested in acquiring shares in the bank, as part of its ongoing strategic review of operations in Ghana.
This submission is a regulatory requirement as Société Générale adjusts its ownership structure in compliance with the BoG’s expectations. The review follows earlier reports that the French bank was considering an exit from Ghana after nearly 20 years of operation.
In May, the bank’s management confirmed initiating a strategic review of its operations, engaging investment bank Lazard to explore potential buyers for its branches in Ghana, Cameroon, and Tunisia. As part of the process, the BoG requested a comprehensive list of bidders to ensure transparency and prevent unexpected developments.
Speaking at a recent Monetary Policy Committee (MPC) press briefing in Accra, BoG Governor Dr. Ernest Addison confirmed that the central bank had received the full list of share acquirers. “We have been furnished with all the bidders of shares that are being disposed of. The bidding process is still ongoing, and once a preferred bidder is decided, they will inform us,” Dr. Addison stated.
Currently, Société Générale holds about 56% of its Ghana operations, with SSNIT owning 19%, an individual holding approximately 7%, and the remaining shares belonging to other entities. As the evaluation process unfolds, the Bank of Ghana is carefully assessing prospective shareholders.
Société Générale has reassured its customers that it is committed to forging strong partnerships and investments aimed at boosting its long-term performance and profitability, regardless of the outcome of the share acquisition process.
