Governor of the Bank of Ghana (BoG), Dr Johnson Asiama has said that the sale of shares in Société Générale is ongoing with prospective buyers touching base with the BoG.
Dr Asiama said that the BoG is ensuring the prospective buyers meet the fit and proper requirements.
Asked about the current state of affairs regarding the sale of the shares, Dr Asiama said during the 123rd Monetary Policy Committee (MPC) press conference in Accra on Friday, March 28, that “The sale of shares in Societe Generale is ongoing, a number of prospective buyers have touched base with us. But as you know, we are central bank regulators, ours is to issue a no objection, ours is to ensure that the prospective buyer meets the fit and proper requirements. And so we await negotiations on their part. When it is included, we will then look at the aspect that we have to look at.
“We will have to make sure that they meet the policy guidelines when it comes to mergers and acquisitions, and to me sure that everything is fit and proper. So that is where we are as far as the SG transaction is concerned. We are waiting for the shareholders, we are waiting for the agreements that can be reached, and then we will get involved for that sale to go to the next step.”
On Thursday, May 9, 2024, the Management of Société Générale Ghana said in a statement that the Société Générale Group had initiated a strategic review.
Read Also: Société Générale submits full list of bidders for its shares to Bank of Ghana
“Societe Generale Ghana has been informed that Societe Generale Group, which holds 60.22% of Societe Generale Ghana, has initiated a strategic review. If a concrete development were to be decided, a subsequent communication will be made at the appropriate time according to applicable legislation,” the statement said.
On Wednesday, May 8, the Managing Director of Societe Generale Ghana, Hakim Ouzzani, described the media reports that the bank was exiting Ghana as rumors. Mr. Ouzzani said that the report did not come from the bank.
He assured that the bank remainEed committed to its group strategy to strengthen its capital base since 2023.
“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention to all our stakeholders and our shareholders that the news item being circulated in the media was not issued by the group nor by SG Ghana”, he said while speaking at the 44th Annual General Meeting of Societe Generale Ghana in Accra.
It had been reported that after nearly 20 years of operations in Ghana, the French bank had decided to withdraw from Ghana.
The post Sale of shares in Société Générale is ongoing – Governor Asiama first appeared on 3News.
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