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Société Générale Ghana Maintains Silence on Market Exit Rumors

Customers of Société Générale Ghana have been left in limbo as the bank's management declines to comment on rumors of a possible exit from Ghana. The silence has only fueled speculation, leaving customers uncertain about the bank's future plans and the implications for their accounts and services.

Management of Société Générale Ghana, a French bank operating in the country, has declined to comment on rumors of a potential exit from the Ghanaian market. This comes after a shareholder annual meeting held on May 8, 2024, where journalists attempted to query the bank’s executives on the sidelines.

Our report on May 3 revealed that the Bank has made the decision to withdraw from the Ghanaian market just twenty years after entering.

Days after the report went viral, the bank’s management has refused to address the rumors, leaving the fate of their Ghanaian operations uncertain. The bank’s silence on the matter has sparked concerns among customers and stakeholders, who are eager for clarity on the situation.

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READ ALSO: French Bank Société Générale Exiting Ghana Market

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As one of the leading financial institutions in Ghana, Société Générale Ghana’s potential exit could have significant implications for the country’s banking sector and economy as a whole. The bank’s customers and partners will be eagerly awaiting a statement from the management to put their minds at ease.

For now, the bank’s silence only adds to the speculation and uncertainty surrounding their future in Ghana.

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It will be recalled that The Accra Times broke the news on the possible departure of the bank just twenty years after entering. Alongside Ghana, the bank has also chosen to exit operations in two other African countries, namely Tunisia and Cameroon.

Sources close to the bank reveal that Société Générale has enlisted the services of investment bank Lazard to seek potential buyers for its operations in Ghana, Cameroon, and Tunisia.

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