SSNIT Increases Stake in Société Générale Ghana to 24.36%

The Social Security and National Insurance Trust (SSNIT) has secured an additional 5% stake in Société Générale Ghana, increasing its shareholding from 19.36% to 24.36%.

According to SSNIT, the development follows the completion of the acquisition of Société Générale Group’s 60.22% controlling stake in the bank by Attijariwafa Bank and SSNIT.

“The Trust appreciates the support of the Government of Ghana, particularly the Minister responsible for Finance, who was instrumental in securing the additional stake and completing the transaction,” the statement said.

Management noted that the increased shareholding represents a significant strengthening of SSNIT’s investment on behalf of workers and pensioners in Ghana.

“It enhances the Trust’s position to safeguard and grow contributors’ retirement assets while supporting the long-term development and stability of the Bank,” it added.

SSNIT said the transaction also advances greater Ghanaian participation in the banking sector by increasing local ownership in a major financial institution.

“This reflects the importance of ensuring that workers in Ghana, pensioners and institutions benefit more directly from the growth and performance of the country’s financial sector,” the release stated.

The Trust thanked Attijariwafa Bank for its cooperation throughout the transaction and acknowledged the Bank of Ghana and the Securities and Exchange Commission for their regulatory oversight.

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