A Moroccan banking giant is about to become a major player in Ghana's financial sector. Société Générale Group has announced an agreement to sell its majority stake in Société Générale Ghana to Attijariwafa Bank, a Pan-African financial services group headquartered in Casablanca, Morocco.
The deal marks a significant shift in ownership for one of Ghana's established commercial banks — and puts a spotlight on a fast-expanding African institution that many outside the continent's banking circles are only now learning about.
Who Is Attijariwafa Bank?
Attijariwafa Bank traces its roots to 1904, making it one of the oldest financial institutions on the continent. The bank was formed through the merger of two of Morocco's major lenders — Banque Commerciale du Maroc and Wafabank — and has since grown into a dominant force in Morocco's financial system, consistently ranking among the country's top banks by assets and market share.
Its history is deeply tied to Morocco's economic development. The bank says it played a key role in modernising the country's financial infrastructure and building out its industrial base over more than a century of operations.
A Continent-Wide Footprint
Attijariwafa Bank's expansion beyond Morocco has been deliberate and sustained. The group currently operates in markets including Côte d'Ivoire, Senegal, and Nigeria, and its African push has been central to its long-term growth strategy.
The bank serves approximately 12 million retail, professional, corporate, and institutional clients. With more than 20,000 employees spread across 26 countries in Africa, Europe, and the Middle East, it is one of the continent's most geographically distributed banking groups.
Ghana's banking sector has seen considerable consolidation in recent years, and this acquisition adds another chapter to that story — this time with a pan-African institution stepping into a role previously held by a European banking heavyweight.
The CEO's Vision
The Chairman and Group CEO of Attijariwafa Bank has spoken candidly about the institution's growth philosophy. In a statement outlining the bank's development, he described more than 15 years of continental expansion, saying the group had built itself into one of Africa's leading banking outfits.
"We have achieved all this by cultivating our pioneering spirit and by leveraging strong historic values, as well as our constant drive to innovate and a daily commitment by our employees."
He added that the bank's teams work to build trust with customers through high-value products and services:
"Together, we work tirelessly to develop high added-value products and services, and to forge genuine bonds of trust with our valued customers."
The group describes its model as a universal banking approach — one that serves everyone from individual retail customers to large institutional clients, while investing in technological innovation across its operations.
What Comes Next for SG Ghana
The transaction, once completed, will install Attijariwafa Bank as the new majority shareholder in Société Générale Ghana. The move extends the Moroccan group's West African footprint into one of the region's most active economies.
Further details on the timeline and terms of the deal have not yet been disclosed, but the announcement confirms that Société Générale Group is continuing to restructure its African banking operations — and that Attijariwafa Bank is the institution moving in to fill that space.