Attijariwafa Bank to acquire majority stake in Société Générale Ghana

Attijariwafa Bank, Morocco’s largest financial institution, has reached an agreement to acquire a majority stake in Société Générale Ghana. The deal involves the transfer of 60.22% of the Ghanaian subsidiary's capital. Attijariwafa Bank will directly acquire 55.22%, while the remaining 5% will be held by the Social Security and National Insurance Trust (SSNIT), Ghana’s public pension administrator.

This acquisition marks Attijariwafa Bank’s first entry into English-speaking sub-Saharan Africa and its first major banking acquisition in nearly a decade. The move is viewed as a strategic diversification to hedge against domestic market uncertainties in Morocco and to establish a foothold in Ghana’s growing economy.

The transaction is subject to regulatory and stock exchange approvals in both Morocco and Ghana. While the specific purchase price has not been disclosed, Société Générale Ghana reported a net income of 397 million GHS for the period ending December 31, 2025, and maintains a network of 40 branches across 24 cities.