The rumours did not emanate from us — Société Générale on purported exit from Ghana

French Bank Société Générale has reacted to reports that it will be exiting the Ghanaian market soon.

On Saturday, May 4, reports emanated noting that SG has mandated investment bank Lazard to find buyers for its operations in three African countries—Cameroon, Tunisia and Ghana.

However, the bank has clarified that it is rather restructuring its operations to better align with international market dynamics.

Speaking during the 44th Annual General Meeting, Société Générale’s Managing Director, Hakim Ouzzani, emphasized that the reports were not from them.

“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention and 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,” he stated.