The Social Security and National Insurance Trust (SSNIT) has increased its shareholding in Société Générale Ghana by an additional 5 percentage points, raising its stake from 19.36% to 24.36%.
The development follows the completion of the acquisition of Société Générale Group’s 60.22% controlling stake in the bank.
In a statement, SSNIT said the additional stake was secured with the support of the Government of Ghana, particularly the Minister responsible for Finance, which it said was instrumental in completing the transaction.
According to the Trust, the increased shareholding strengthens its investment position on behalf of Ghanaian workers and pensioners.
It said the development enhances SSNIT’s ability to safeguard and grow contributors’ retirement assets while supporting the long-term development and stability of Société Générale Ghana.
The transaction also increases Ghanaian participation in the banking sector through greater local ownership of a major financial institution.
SSNIT said this was important to ensuring that Ghanaian workers, pensioners and institutions benefit more directly from the growth and performance of the country’s financial sector.
The Trust expressed appreciation to Attijariwafa Bank for its cooperation throughout the transaction.
It also acknowledged the Bank of Ghana and the Securities and Exchange Commission for their regulatory oversight of the process.
