Bank of Ghana Vets Buyers for Société Générale Shares
Accra, Ghana - 31 March, 2025 - Ghana's central bank is overseeing the sale of shares in Société Générale Ghana, ensuring that potential buyers meet strict requirements to maintain financial sector stability.
At the 123rd Monetary Policy Committee meeting in Accra on March 28, Bank of Ghana Governor Dr. Johnson Asiama shared updates on the sale of Société Générale shares, revealing that prospective buyers are in talks with the central bank
He emphasized the bank's commitment to transparency and compliance.
“The sale of shares in Societe Generale is ongoing, a number of prospective buyers have touched base with us. But as you know, we are central bank regulators, ours is to issue a no objection, ours is to ensure that the prospective buyer meets the fit and proper requirements. And so we await negotiations on their part. When it is included, we will then look at the aspect that we have to look at.
“We will have to make sure that they meet the policy guidelines when it comes to mergers and acquisitions, and to make sure that everything is fit and proper.
“So that is where we are as far as the SG transaction is concerned. We are waiting for the shareholders, we are waiting for the agreements that can be reached, and then we will get involved for that sale to go to the next step,'' he added.
Meanwhile, Société Générale Ghana's managing director Hakim Ouzzani previously dismissed rumors of the bank's exit from Ghana during the 44th Annual General Meeting of the bank, held concurrently in-person in Accra and virtually on Wednesday May 8, 2024, reaffirming its commitment to strengthening its capital base.
“In the context of this strategy of the Group and following decisions taken on some activities over the world, in France, Africa, and elsewhere, some rumours have indeed taken root regarding SG Ghana,” he said.
“It’s important to mention to all our stakeholders and stakeholders that the news item being circulated in the media was not issued by the Group nor by SG Bank. We don’t want to comment further.” Mr Ouzzani added.
The sale of shares is expected to attract new investors, potentially reshaping the banking industry in Ghana.
Source: Lead News Online
