The Bank of Ghana has stated that it has not received any formal notice from Société Générale Ghana on recent news reports suggesting the bank’s exit from the Ghanaian market.
French Bank Société Générale earlier this month dismissed rumours suggesting its withdrawal from the Ghanaian banking sector, describing them as baseless speculation.
However, the Central Bank notes that it is actively engaging in discussions with the Bank’s Group Head Office to ensure clarity.
Giving an update at the 118th Monetary Policy Committee press briefing, Governor of the Bank of Ghana, Dr. Ernest Addison urged the bank to be transparent in its operations.
“We have not formally received any information from SG…both from the group or the office in Accra. I have had discussions with their office in Cote D’Ivoire and I have complained that we don’t want to be surprised.
“We are hearing things but we want to see the long list of those that are interested in acquiring their shares. I have expressed those concerns to their office in the Côte d’Ivoire. Hopefully, we will hear something from them soon,” he said.
Societe Generale Ghana earlier noted that it had informed the Societe Generale Group, which holds 60.22% of Societe Generale Ghana and has initiated a strategic review of its operations.
In a statement, Societe Generale Ghana added “If a concrete development were to be decided, a subsequent communication will be made at the appropriate time according to applicable legislation.”
