Accra, Oct 1, GNA – The Social Security and National Insurance Trust (SSNIT) has announced its acquisition of an additional 5 per cent stake in Société Générale Ghana, thereby increasing SSNIT’s shareholding from 19.36 per cent to 24.36 per cent.
The development follows the completion of the acquisition of Société Générale Group’s 60.22 per cent controlling stake in the bank by Attijariwafa Bank and SSNIT.
In a statement issued on Thursday, SSNIT noted: “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”, it said.
According to SSNIT, the transaction also advanced 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”, it said.
GNA