Attijariwafa’s SG Ghana deal moves through sequenced approvals

Attijariwafa’s SG Ghana deal moves through sequenced approvals

Société Générale is selling its entire 60.22% stake: 55.22% to Attijariwafa bank and 5% to SSNIT. A Bank of Ghana no-objection has been reported; Ghana SEC approval is still needed.

October 17, 2026

Société Générale Group is selling its entire 60.22% stake in Société Générale Ghana: 55.22% to Morocco’s Attijariwafa bank and 5% to Ghana’s Social Security and National Insurance Trust (SSNIT). The value has not been disclosed.

Status

The deal was announced on 1 October 2026 (Graphic Online). SSNIT’s purchase takes its holding from 19.36% to 24.36%. MyJoyOnline reported on 5 October, citing sources, that the Bank of Ghana has issued a no-objection; The Meridian has not seen an official Bank of Ghana statement. Approval from Ghana’s Securities and Exchange Commission is still required. Advisers have not been disclosed.

Why it matters

It is Attijariwafa’s entry into an English-speaking West African market, and another step in the retreat of French banking groups from the region. For a listed bank, the sequence of prudential and securities approvals, and any mandatory-offer questions for minority holders, now set the timetable.

Photo: Elegant Machines / Wikimedia Commons, CC BY-SA 3.0 (illustrative).

The Meridian Editorial Team

Andrew U. — Editorial Director | Damilare A. — Intelligence Director | Amaka Nwoye — Senior Legal Research Analyst | Salome Mensah — Market Intelligence Analyst | May Ndlovu — Editorial Researcher | K.K. Lawal — Senior Correspondent | The Meridian’s editorial team brings experience across West African legal markets, commercial law, market intelligence and structured research. Our standard is simple: evidence first, independent judgement, and analysis grounded in how legal work happens in practice.