Societe Generale Group initiates strategic review of Societe Generale Ghana

Societe Generale Ghana has addressed recent speculation regarding the Societe Generale Group's strategic review, stating that further details will be communicated in accordance with relevant regulations.

In a statement released on Thursday, May 9, the bank clarified that Societe Generale Group, holding a majority stake of 60.22% in Societe Generale Ghana, has initiated a strategic review, and assured stakeholders that

Read full articleany concrete developments resulting from this review would be communicated at the appropriate time and in compliance with applicable legislation.

“Societe Generale Ghana has been informed that Societe Generale Group, which holds 60.22% of Societe Generale Ghana, has initiated a strategic review.

“If a concrete development were to be decided, a subsequent communication will be made at the appropriate time according to applicable legislation,” the statement said.

The Managing Director of Societe Generale Ghana, Hakim Ouzzani, dismissed media reports suggesting the bank's exit from Ghana as mere rumors during the 44th Annual General Meeting held in Accra on Wednesday, May 8. Ouzzani emphasized that the circulated news did not originate from the bank and reiterated the institution's commitment to its group strategy aimed at fortifying its capital base since 2023.