{"id":74450,"date":"2024-05-30T16:03:03","date_gmt":"2024-05-30T16:03:03","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/weve-not-formally-received-information-from-societe-generale-on-their-next-line-of-action"},"modified":"2024-05-30T16:24:33","modified_gmt":"2024-05-30T16:24:33","slug":"weve-not-formally-received-information-from-societe-generale-on-their-next-line-of-action","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/weve-not-formally-received-information-from-societe-generale-on-their-next-line-of-action","title":{"rendered":"We\u2019ve not formally received information from Soci\u00e9t\u00e9 G\u00e9n\u00e9rale on their next line of action"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said he has had discussions with representatives of Socie\u0301te\u0301 Ge\u0301ne\u0301rale Ghana at their Cote D\u2019Ivoire office and told them that the Bank of Ghana does not want to see surprises relative to the list of the persons interested in acquiring shares in the bank.<\/b><\/p>\n

Dr Addison said that the central bank is yet to receive any formal information on the next line of action of the bank except the news reports about their exit.<\/p>\n

Asked whether the BoG has received information on the next line of action from the bank, Dr Addison said during the 118th Monetary Policy Committee (MPC) press conference in Accra on Monday, May 27 that \u201cThis is an area where we have not formally received any information from SG both from their group or from the office in Accra.<\/p>\n

\u201cI have had discussions with their office in Cote I\u2019dvoire and I have complained that we don\u2019t want to be surprised.<\/p>\n

\u201cWe are hearing things in the air and we want to see the long list of those that are interested in acquiring their shares, we do not even want to see the shortlist. So I have expressed those concerns to their representatives in their Cote D\u2019Ivoire office and hopefully we will hear something from the group very soon.\u201d<\/p>\n

Governor Addison said the central bank has not yet received any formal information on the next line of action of the bank.<\/p>\n

The Management of Socie\u0301te\u0301 Ge\u0301ne\u0301rale Ghana had said in a statement on Thursday, May 9 that the Socie\u0301te\u0301 Ge\u0301ne\u0301rale Group had initiated a strategic review. Socie\u0301te\u0301 Ge\u0301ne\u0301rale Ghana assured that it would communicate further details at the appropriate time according to applicable legislation.<\/p>\n

\u201cSociete Generale Ghana has been informed that Societe Generale Group, which holds 60.22% of Societe Generale Ghana, has initiated a strategic review. If a concrete development were to be decided, a subsequent communication will be made at the appropriate time according to applicable<\/p>\n

He assured that the bank remains committed to its group strategy to strengthen its capital base since 2023.<\/p>\n

\u201cSome rumours have indeed taken root regarding SG Ghana. But it\u2019s important to mention 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\u201d, he said while speaking at the 44th Annual General Meeting of Societe Generale Ghana in Accra.<\/p>\n

\u201cWe don\u2019t want to comment further,\u201d he added.<\/p>\n

It had been reported that after nearly 20 years of operations in Ghana, the French bank had decided to withdraw from Ghana.<\/p>\n

Socie\u0301te\u0301 Ge\u0301ne\u0301rale has engaged investment bank Lazard to explore potential buyers for its operations in Ghana, Cameroon, and Tunisia. The report that there are indications that Absa Bank was seriously contemplating acquiring these subsidiaries. The departure of European banks from Africa, including Socie\u0301te\u0301 Ge\u0301ne\u0301rale, is primarily attributed to the high cost-to-income ratio.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said he has had discussions with representatives of Socie\u0301te\u0301 Ge\u0301ne\u0301rale Ghana at their Cote D\u2019Ivoire office and told them that the Bank of Ghana does not want to see surprises relative to the list of the persons interested in acquiring shares […]<\/p>\n","protected":false},"author":84,"featured_media":74449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-74450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nWe\u2019ve not formally received information from Soci\u00e9t\u00e9 G\u00e9n\u00e9rale on their next line of action - Ghana<\/title>\n<meta name=\"description\" content=\"Governor of the Bank of Ghana (BoG), Dr Ernest 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