Bank of Ghana seeks list of potential buyers for Société Générale Ghana shares

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has disclosed that the central bank is seeking a comprehensive list of individuals and institutions interested in purchasing shares of Société Générale (SG) Bank Ghana.

This comes amidst reports that the SG Group in France, which owns 60.22% of SG Ghana, is planning to divest its shares and exit the Ghanaian market.

During a press briefing to announce the policy rate, Dr. Addison emphasized that the Bank of Ghana has proactively contacted SG Bank through its subsidiary in Côte d’Ivoire to obtain detailed plans regarding the potential sale.

He stressed the importance of not being caught off guard by these developments, indicating that the central bank has expressed its concerns to SG’s office in Côte d’Ivoire and is awaiting a response.

Dr. Addison clarified that, to date, the Bank of Ghana has not received any formal communication from SG Group or its local office in Accra regarding the sale.

This lack of official notification prompted the central bank to reach out independently to ensure they are kept informed about interested buyers.

The background to this situation includes a statement from Hakim Ouzzani, Managing Director of SG Ghana, who asserted that any information about the bank’s exit did not originate from the Group’s Head Office in France.

This declaration was made during the bank’s Annual General Meeting in Accra, after which Mr. Ouzzani refrained from further comments.

Source: Norvanreports