Societe Generale Finds New Buyer for Mauritania Unit in Africa Pullback
Societe Generale, France’s third-biggest listed lender, has agreed to sell its subsidiary in Mauritania to a consortium led by asset manager Enko Capital, according to a statement sent to Reuters on Friday.
Details of the transaction, which comes after a first failed attempt to sell the unit to banking group Coris, were not disclosed.
SocGen has significantly pared back its African businesses since Chief Executive Slawomir Krupa took up his post in 2023, following the path of rivals BNP Paribas, Standard Chartered and Barclays.
The bank still runs operations in Algeria, Tunisia, Ivory Coast, Senegal, Cameroon and Ghana.
