The planned acquisition of a majority stake in Societe Generale Ghana by Morocco’s Attijariwafa Bank has opened discussions on potential investment opportunities between the two countries.
The development featured in a meeting between Ghana Investment Promotion Authority (GIPA) chief executive Simon Madjie and Societe Generale Ghana managing director Hakim Ouzzani in Accra.
Mr Madjie said the transaction could pave the way for increased Moroccan foreign direct investment into Ghana and reaffirmed GIPA’s readiness to support a smooth transition of the bank’s operations.
He also invited both Societe Generale Ghana and Attijariwafa Bank to participate in the Invest Ghana Summit scheduled for November 16 and 17 in Accra.
The summit is expected to provide an opportunity for the institutions to explore investment prospects and strengthen business partnerships.
More Read
Under the proposed transaction, Attijariwafa Bank is expected to acquire a 55.22 per cent stake in Societe Generale Ghana, while the Social Security and National Insurance Trust (SSNIT) will acquire an additional five per cent stake.
The engagement forms part of GIPA’s efforts to attract foreign investment and strengthen Ghana’s economic partnerships.
