After 20 years of operating in Ghana, Société Générale has made the decision to withdraw from the Ghanaian market.
Initially, the bank entered the Ghanaian market in 2003 by acquiring a 51% stake in the then Social Security Bank.
Insiders claim that Société Générale has enlisted the assistance of investment firm Lazard to locate possible purchasers for its Ghanaian operations. It has been reported that Absa Bank is presently giving the purchase of these subsidiaries careful thought.
Netizens have reacted to this with others in shock and others attributing it to the economic conditions under the incumbent Akuffo-Addo led administration.
One netizen commented “eii chaley what dey happen.”
Another also wrote: Société Générale has recently announced its withdrawal from the Ghanaian market after two decades of operation. This decision comes amidst the challenging economic conditions in Ghana under the leadership of Akufo-Addo and Bawumia.
