Attijariwafa Bank to acquire majority stake in Société Générale Ghana

Attijariwafa Bank has signed an agreement to acquire a majority stake in Société Générale Ghana, aiming to strengthen its presence in Anglophone Africa. The Moroccan group intends to acquire a 55.22% stake from Société Générale. Additionally, the deal includes the transfer of 5% of the capital to Ghana’s Social Security and National Insurance Trust.

The transaction is subject to receiving necessary regulatory and stock exchange approvals in both Morocco and Ghana. Once finalized, the acquisition will provide Attijariwafa Bank with a significant platform in the Ghanaian market, leveraging Société Générale Ghana’s established network of 40 branches across 24 cities and over 500 employees.

As of the end of 2025, Société Générale Ghana reported a net banking income of 1.356 billion Ghanaian cedis and a net result of 397 million cedis. Attijariwafa Bank CEO Mohamed El Kettani stated that the move reflects the group’s confidence in Ghana’s economic prospects and aligns with its strategy to expand its universal banking model across the continent.