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Société Générale dismisses reports of exiting Ghana

Rumors that the French bank Société Générale is pulling out of the Ghanaian banking industry have been categorically refuted, labeled as mere conjecture.

The bank made it clear that it is reorganizing its business to better fit the dynamics of global markets.

Société Générale’s Managing Director, Hakim Ouzzani, addressed concerns expressed by shareholders over the purported departure during the 44th Annual General Meeting, emphasizing that the reports were not coming from the bank.

“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention to all our stakeholders and our shareholders that the news item being circulated in the media was not issued by the group nor by SG Ghana.

“We don’t want to comment further. But really, I insist on the papers is not by SG, it is not by SG Ghana,” he stated.

Société Générale dismisses reports of exiting Ghana

Reports that have been widely disseminated claim that Société Générale is leaving the banking industry in Ghana after 20 years.

Recently, Société Générale concluded agreements with Saham Group to divest its interests in Morocco. It was separated from a number of African nations in 2023, including Burkina Faso, Equatorial Guinea, Congo, Mauritania, and Chad.

In keeping with its overarching strategy, which was disclosed on its website on April 12, 2024, Société Générale intends to concentrate its resources on markets where it can establish itself as a prominent bank, citing its long-standing presence in Africa.

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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