Accra:The Social Security and National Insurance Trust (SSNIT) has increased its ownership stake in Societe Generale Ghana from 19.36 to 24.36. This acquisition was part of a transaction involving the sale of Societe Generale Group's 60.22 controlling stake in the Ghanaian bank.
According to Ghana Web, The deal was completed by Morocco's Attijariwafa Bank and SSNIT. SSNIT stated that increasing its stake would help protect and grow the pension funds of Ghanaian workers and support the bank's long-term growth and stability. The Trust also emphasized that the transaction would enhance Ghanaian ownership in the banking sector.
SSNIT expressed appreciation for the government's support, especially acknowledging Finance Minister Dr. Cassiel Ato Forson's role in securing the additional stake and completing the transaction. The Trust also thanked Attijariwafa Bank for its cooperation and acknowledged the role of the Bank of Ghana and the Securities and Exchange Commission in overseeing the transaction. With this latest move, SSNIT now owns almost a quarter of Societe Generale Ghana.