SSNIT Gains Additional 5% Stake in Societe Generale Ghana

The Social Security and National Insurance Trust (SSNIT) has acquired enough shares in Societe Generale Ghana to lift its stake from 19.36 to 24.36 percent. The purchase follows Attijariwafa Bank’s recent takeover of the French firm’s 60.22 percent ownership in the local bank. In a statement released on Tuesday, SSNIT noted that the Finance Minister played a key part in making the deal happen. It told Ghanaians that the extra holding puts the Trust in a better position to protect workers’ retirement savings while helping the bank stay strong and stable. SSNIT also said the bank is now more firmly owned by Ghanaians. It praised Attijariwafa Bank for working with them through the process and recognized the Bank of Ghana and the Securities and Exchange Commission for their oversight of the transaction.

The agreement matters because it means the state pension fund now controls a bigger slice of a major financial institution that serves thousands of customers across the country. More local ownership gives SSNIT a stronger voice when decisions are made about the bank’s direction and performance. It also aligns with a broader push to keep more of the financial sector’s profits and growth inside Ghana. Stakeholders such as pensioners, retirees and worker groups are watching closely to see how the extra share will translate into better returns for contributors.

The next step is a formal handover of shares that is expected to be completed within the next few weeks. After that, SSNIT said it will work with the bank and regulators to ensure that the increased local shareholding improves service delivery and supports the nation’s development goals.