Reports of Exiting Ghana Are Rumours – Société Générale

French bank, Société Générale has rubbished media reports on its exit from the Ghanaian market as rumours.

According to the bank, there’s no official letter from the head office in France instructing it to this effect.

Speaking at the 44th general meeting of Société Générale, Hakim Ouzzani, the managing director said the bank remains committed to its group strategy to strengthen its capital base. He further went ahead to rubbish rumours of its exit.

“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention to all our stakeholders and our shareholders that the news item being circulated in the media was not issued by the group nor by SG Ghana.”

“We don’t want to comment further. But really, I insist on the papers is not by SG, it is not by SG Ghana,” Ouzzani said.

Société Générale initially entered the Ghanaian market in 2003 by acquiring a 51% stake in the then Social Security Bank. Despite the challenges faced by the financial sector, the bank asserted its resilience during its 20th-anniversary celebration last year.

Source: GhanaFeed.com