Saturday 27th August, 2016
Accra, Aug 27, GNA – Societe Generale has
signed a $50 million Credit Facility Agreement with Ghana to finance the
rehabilitation of the Government missions abroad.
A statement issued by Societe Generale Ghana
and copied to the Ghana News Agency said the bank was happy to support the
rehabilitation of Ghana’s missions abroad with the $50 million financing.
The agreement has come at an opportune time to
support the Ghana Government to address some of the challenges faced by the
Ghana foreign missions, it said.
“It is Societe Generale Ghana’s desire to
partner Ghana in the socio economic development of the country and to
strengthen the already cordial business relations that has existed for many
years between the Societe Generale Group, Societe Generale Ghana and the
Government of Ghana,” the statement said.
It said observers acknowledged that there was
rule of law and respect for human rights in Ghana and that the country’s
democracy had deepened.
“Therefore, as a true development partner of
Ghana, Societe Generale Ghana and the Societe Generale Group have financed
various Government of Ghana projects to the tune of $600 million between 2009
“Some of the projects Societe Generale has
financed totally or as a participating bank in a syndication include the
Aboadze Thermal Plant; Fire Tenders for the Ministry of the Interior; Steel
Bridges for the Ministry of Roads and Highways; E-Government Project for the
Ministry of Communication; two GRIDCo Transmission Projects; the Accra Streets
Asphalting; the Kwame Nkrumah and Kasoa Interchanges and the Ghana Cocobod
Cocoa Syndication since 1997 to date,” the statement said.
Societe Generale has significantly invested in
Ghana’s financial sector in view of the stable political environment and
improving economy with strong medium and long-term prospects.
The bank is one of the largest networked banks
in Ghana with over 40 branches. Societe Generale Ghana is listed on the Ghana
Stock Exchange and is a member of the Ghana Club 100 of the Ghana Investment
Societe Generale Ghana has more than 11,000
business customers and 216,000 retail customers.