{"id":178875,"date":"2024-05-06T12:59:18","date_gmt":"2024-05-06T12:59:18","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/05\/06\/societe-generale-leaves-ghana\/"},"modified":"2024-05-06T12:59:18","modified_gmt":"2024-05-06T12:59:18","slug":"societe-generale-leaves-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/05\/06\/societe-generale-leaves-ghana\/","title":{"rendered":"Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Leaves Ghana &#8211;"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\u00a0<\/p>\n<p>French bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale has taken the decision to exit the Ghanaian market after 20 years of operations in the country.<\/p>\n<p>In addition to Ghana, the bank has decided to cease operations in two other African countries, Tunisia and Cameroon.<\/p>\n<p>For this reason, the French\u00a0has hired an\u00a0investment bank,\u00a0Lazard,\u00a0to find potential buyers for its businesses in Tunisia, Ghana, and Cameroon, and indications are that\u00a0Absa Bank has shown interest in\u00a0buying\u00a0it.<\/p>\n<p>The action comes just a week after Soci\u00e9t\u00e9 G\u00e9n\u00e9rale signed deals with Saham Group to sell its Moroccan assets.<\/p>\n<p>Last year, the bank sold its holdings in Congo, Equatorial Guinea, Mauritania, Burkina Faso, and Chad, and the potential sale of its operations in Ghana indicates a decision by the French bank to exit the African market.<\/p>\n<p>The bank initially entered Ghana in 2003, when it acquired a 51% share in what was then known as the Social Security Bank.<\/p>\n<p>According to the bank\u2019s website updated\u00a0on April 12, 2024, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, with its strong presence in Africa, intends to focus its efforts on markets where it can strengthen its position as a major financial institution, in line with the group\u2019s overall strategy.<\/p>\n<p>According to some reports, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale\u2019s planned pullout from Ghana and other African countries is consistent with similar steps taken\u00a0by other European banks such as Barclays Bank, and Standard Chartered.<\/p>\n<p>Furthermore, recent arrivals such as Atlas Mara have exited the continent, while Credit Suisse retains solely its operations in South African.<\/p>\n<p>As early as 2018, the French bank, Groupe BPCE, exited its non-core businesses in many African countries.<\/p>\n<p><strong>A Business Desk Report<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 French bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale has taken the decision to exit the Ghanaian market after 20 years of operations in the country. In addition to Ghana, the bank has decided to cease operations in two other African countries, Tunisia and Cameroon. For this reason, the French\u00a0has hired an\u00a0investment bank,\u00a0Lazard,\u00a0to find potential buyers for its businesses [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":178876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-178875","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Leaves Ghana - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/05\/06\/societe-generale-leaves-ghana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soci\u00e9t\u00e9 G\u00e9n\u00e9rale Leaves Ghana - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"\u00a0 French bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale has taken the decision to exit the Ghanaian market after 20 years of operations in the country. In addition to Ghana, the bank has decided to cease operations in two other African countries, Tunisia and Cameroon. 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