Societe Generale Ghana PLC has clarified reports that Bank of Africa (BOA) and Access Bank are competing to acquire a majority stake in the bank, saying the reports did not originate from either Societe Generale Ghana or its parent company, Societe Generale Group.
In a market announcement dated September 9, 2026, the bank described the reports as unverified, stressing that neither the bank nor its parent company had officially issued the information.
The clarification was made in accordance with Section 71 of Part IX of the Ghana Stock Exchange (GSE) Listing Rules, which requires listed companies to promptly clarify information that could influence the market.
Societe Generale Ghana, however, did not confirm or rule out the possibility of a future transaction involving a change in ownership.
Instead, the bank’s statement makes clear that, as of September 9, there had been no official communication from Societe Generale Ghana or Societe Generale Group confirming that BOA and Access Bank were competing for a majority stake.
The clarification is significant for investors and other market participants, as reports of a possible takeover can influence expectations around a company’s share price, ownership structure and future direction.
For now, the bank is urging the market to distinguish between media speculation and officially disclosed information, pending any further announcement from the institution or its parent company.
Any confirmed change in majority ownership could have wider implications for Societe Generale Ghana, including its strategy, management direction, capital position and competitive standing in Ghana’s banking sector.
