Morocco’s largest bank, Attijariwafa Bank, has taken a historic step by agreeing to acquire a majority stake in Société Générale Ghana, marking its first significant entry into English-speaking Africa after nearly a decade without a continental acquisition.
On October 1, the Casablanca-based group formalized the purchase of a 55.22% stake in the Ghanaian lender, with Ghana’s Social Security and National Insurance Trust set to take an additional 5%.
The deal remains subject to regulatory approvals and final closing.
Société Générale Ghana operates about 40 branches across 24 cities and employs more than 500 people.
Attijariwafa’s African network has been concentrated in Francophone markets. Ghana was chosen for its institutional stability and dynamic banking sector, widely regarded as one of the region’s stronger performers.
While modest relative to the Moroccan parent, the transaction gives Attijariwafa a foothold in a new linguistic and economic space as the group seeks fresh growth drivers.
Domestically, the bank continues to dominate, boosted by strong lending linked to major infrastructure projects, including preparations for the 2030 World Cup.
