Key Facts
—Deal. Société Générale announced on Thursday 1 October 2026 an agreement to sell its entire 60.22% stake in Société Générale Ghana. Attijariwafa Bank of Morocco takes 55.22%, and Ghana’s state pension fund SSNIT takes 5%.
—Status. The sale is not yet complete. It needs approval from financial and regulatory authorities, and the price has not been disclosed.
—Target. Société Générale Ghana has about 40 branches and outlets in 24 cities and about 500 employees. Its 2025 net profit was GH¢397 million (about US$34 million).
—SSNIT. The extra 5% lifts the pension fund’s holding from 19.36% to 24.36%.
—For customers. Attijariwafa will take over all activities, client portfolios and employees. Accounts keep running as normal while approvals are pending.
Morocco’s Attijariwafa Bank has agreed to buy 55.22% of Société Générale Ghana, and the state pension fund SSNIT will take another 5%. The French group is selling its whole 60.22% stake, and Bank of Ghana approval is still pending.
What Société Générale and Attijariwafa Agreed
Société Générale Group announced the deal on Thursday 1 October 2026. Nairametrics reported that it came in a statement to the Ghana Stock Exchange. The French bank will leave Ghana entirely.
Attijariwafa Bank, a Moroccan group, will buy 55.22% of the Ghanaian lender. SSNIT, the Social Security and National Insurance Trust, will buy a further 5%. That raises the pension fund’s stake from 19.36% to 24.36%.
Attijariwafa will then take over all the activities of Société Générale Ghana, including its client portfolios and its employees. Neither side has published a price.
The Bank Being Sold
Société Générale Ghana is based in Accra. It runs about 40 branches and outlets across 24 cities, with about 500 employees, according to Citi Newsroom.
For 2025 it reported net banking income of GH¢1.36 billion and net profit of GH¢397 million. At the EODHD rate of 11.72 Ghanaian cedis per US dollar on 3 October, that is about US$116 million and US$34 million.
Net banking income is the bank’s total operating revenue before costs, so the profit figure shows how much of it was left. The bank is profitable, though the price a buyer pays is not yet known.
Why a Moroccan Bank Wants Ghana
Attijariwafa has been strongest in French-speaking North and West Africa. The Financial Afrik headline says the bank is planting its flag in English-speaking Africa.
The buyer is large, with operations in more than 25 countries. Its chairman and chief executive, Mohamed El Kettani, has said the signing reflects confidence in Ghana’s development prospects.
For context on the local economy, see our reports on Ghana’s mobile money boom and on its gold trade.
What Happens to Customers
Nothing changes on the day of signing. The deal still needs approval from the relevant financial and regulatory authorities before ownership moves.
Banking analyst Dr Richmond Atuahene told YEN.com.gh that customers should not panic. In his words, they are “as safe as it was with SG and as it was with Social Security Bank.” Day-to-day operations across Accra branches are continuing without disruption.
What It Means for You
For a US reader with Ghana exposure, such as a business, investor or lender, the main point is who stands behind the bank. A large pan-African banking group replaces a European parent that is leaving the market.
For anyone banking in Ghana, the account does not move until regulators sign off. Watch for letters from the bank on branding, account numbers or card changes. None have been announced.
What Is Not Known
The price has not been disclosed. No closing date has been given. It is not stated whether minority shareholders will receive an offer, or what happens to the Société Générale name and branch network. No Bank of Ghana approval has been reported yet.
Who is buying Société Générale Ghana?
Attijariwafa Bank of Morocco will buy 55.22% and Ghana’s pension fund SSNIT will buy 5%. Société Générale Group is selling its entire 60.22% stake, according to the agreement announced on 1 October 2026.
Is the sale complete?
No. It is subject to customary conditions and approval by financial and regulatory authorities. No closing date has been announced.
What happens to my Société Générale Ghana account?
Nothing changes yet. Attijariwafa will take over client portfolios and employees once the deal closes. Day-to-day operations are continuing, and an analyst quoted by YEN.com.gh says deposits are as safe as before.
How big is Société Générale Ghana?
It has about 40 branches and outlets in 24 cities and about 500 employees. Its 2025 net profit was GH¢397 million, about US$34 million at 11.72 cedis per US dollar.
Sources
MyJoyOnline · Nairametrics · Citi Newsroom · YEN.com.gh · Financial Afrik · EODHD (USD/GHS)
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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