SG Ghana aims to reposition its activities, by focusing on long-term financing. Proparco is supporting this development, which will strengthen the local financing capacity in a country where this financing is scarce.
SG SSB is the Ghanaian subsidiary of Société Générale Group. It is a universal bank operating in the corporate, private customer and SME segments. It is majority-owned by SG Financial Service Holding, and its shareholders include the Social Security & National Insurance Trust (SSNIT) and Daniel Ofori. It has a network of 40 branches and 870 employees.
Proparco’s credit lines will allow SG SSB to make a strategic shift by positioning itself more on long-term financing, whereas its portfolio is currently very short-term.
This operation will strengthen local financing capacities in a country where long-term financial resources are insufficient. It will thereby contribute to the development of the private sector in key economic sectors. It will also help improve access to financial services. In the context of this financing, SG SSB has pledged to develop a responsible environmental and social management system. This will contribute to promoting good practices on Ghana’s banking market.