SSNIT increases stake in Société Générale Ghana to 24.36%
The Social Security and National Insurance Trust (SSNIT) has acquired an additional 5% stake in Société Générale Ghana, increasing its shareholding in the bank from 19.36% to 24.36%.
The development follows the completion of the acquisition of Société Générale Group’s 60.22% controlling interest in the bank by Attijariwafa Bank and SSNIT.
In a statement issued on Thursday, October 1, SSNIT said it appreciated the support of the Government of Ghana, particularly the Minister for Finance, whose efforts contributed to securing the additional stake and completing the transaction.
According to SSNIT, the increased shareholding strengthens its investment position on behalf of Ghanaian workers and pensioners.
The Trust said the move would enhance its ability to safeguard and grow contributors’ retirement assets while supporting the long-term development and stability of the bank.
SSNIT added that the transaction would also promote greater Ghanaian participation in the banking sector by increasing local ownership in a major financial institution.
It said the development underscores the importance of ensuring that Ghanaian workers, pensioners and institutions benefit more directly from the growth and performance of the country’s financial sector.
SSNIT expressed appreciation to Attijariwafa Bank for its cooperation throughout the transaction and acknowledged the Bank of Ghana and the Securities and Exchange Commission for their regulatory oversight.
By Esther Padmore Amonoo
