In Paris on January 17th, Societe Generale, the third-largest bank in France, has agreed to sell its subsidiary in Mauritania to a consortium led by asset manager Enko Capital. This was confirmed in a statement sent to Reuters on Friday.
Details of the transaction were not disclosed following a previous unsuccessful attempt to sell the unit to banking group Coris.
Under the leadership of Chief Executive Slawomir Krupa, who took over in 2023, Societe Generale has made significant advancements, following a similar path to its competitors BNP Paribas, Standard Chartered, and Barclays.
The bank continues to operate in Algeria, Tunisia, Ivory Coast, Senegal, Cameroon, and Ghana.