Societe Generale, the French multinational investment bank, has recently agreed to sell off some of its businesses in Africa. This move is part of the bank’s strategy to streamline its operations and focus on its core businesses.
The businesses that Societe Generale is selling include its majority stake in Societe Generale Ghana, as well as its businesses in South Africa and Madagascar. The bank has stated that it will continue to maintain a presence in Africa through its other businesses, including its operations in Morocco and Côte d’Ivoire.
The sale of these businesses is expected to have a significant impact on the banking sector in Africa, as Societe Generale has been a major player in the region for many years. The bank has stated that it is committed to ensuring a smooth transition for its employees and customers, and that it will work closely with the buyers to ensure a successful sale.
Overall, this move by Societe Generale is a significant development in the banking industry in Africa, and it will be interesting to see how it plays out over the coming months and years.