Acquisition by Société Générale Madagasikara of a stake from Société Financière Internationale in Accès Banque Madagascar
Societe Generale Madagasikara announces that it has completed the buyback of AccèsBanque Madagascar (ABM) shares held by IFC - International Finance Corporation.
This transaction allows Societe Generale Madagasikara to increase its stake to 24% in ABM.
According to Zdenek Metelak, CEO of Societe Generale Madagasikara, "this approach confirms Societe Generale Madagasikara's desire to further contribute to financial inclusion and the financing of the Malagasy economy, ranging from large companies to the informal sector". This transaction is also recognition of the quality of work of ABM's teams, a dynamic and innovative player in the Malagasy banking environment.
"The International Finance Corporation has supported the dynamic development and success of Accès Banque Madagascar as a shareholder since 2007 and wishes it every success in the future," added Marcelle Ayo, IFC Country Manager for Madagascar.