Attijariwafa Bank to acquire Société Générale Ghana

Attijariwafa Bank has signed an agreement to take control of Société Générale Ghana following the French group's decision to divest its entire 60.22% stake in the subsidiary. Under the terms of the deal, the Moroccan bank will acquire 55.22% of the capital, while Ghana's Social Security and National Insurance Trust (SSNIT) will acquire the remaining 5%.

The transaction marks Société Générale's complete exit from the Ghanaian market. For Attijariwafa Bank, the acquisition is a strategic move to strengthen its presence in Anglophone West Africa and expand its universal banking model across the continent. The bank, which operates 40 branches across 24 cities, serves both retail and corporate clients.

The finalization of the deal remains subject to standard closing conditions and the approval of relevant financial and regulatory authorities in both Morocco and Ghana.