The Social Security and National Insurance Trust (SSNIT) has announced that it has secured an additional 5% stake in Société Générale Ghana.
This increases SSNIT’s shareholding from 19.36% to 24.36%.
SSNIT said the development follows the completion of the acquisition of Société Générale Group’s 60.22% controlling stake in the bank by Attijariwafa Bank and SSNIT.
A statement issued by SSNIT on Thursday, October 1, said the Trust appreciates the support of the Government of Ghana, particularly the Minister responsible for Finance, who was instrumental in securing the additional stake and completing the transaction.
The increased shareholding represents a significant strengthening of SSNIT’s investment on behalf of Ghanaian workers and pensioners.
It enhances the Trust’s position to safeguard and grow contributors’ retirement assets while supporting the long-term development and stability of the Bank.
The transaction also advances greater Ghanaian participation in the banking sector by increasing local ownership in a major financial institution.
This reflects the importance of ensuring that Ghanaian workers, pensioners and institutions benefit more directly from the growth and performance of the country’s financial sector.
SSNIT thanks Attijariwafa Bank for its cooperation throughout the transaction and acknowledges the Bank of Ghana and the Securities and Exchange Commission for their regulatory oversight.
Source: 3news.com
