A solid and historical presence
Today, Societe Generale is one of the most established international banks in Africa, but it is the result of a long history with the continent.
Tunisia in 1956, Guinea in 1958, the rest of Sub-Saharan Africa in 1960 and, finally, Algeria in 1962: it was decolonisation time for France's African colonies. In accordance with the legislation of these newly independent countries, Societe Generale changed the status of its African operations by turning its network of branches into a network of subsidiaries. This is what happened with the Société Générale de Banque in Côte d'Ivoire, which was founded in November 1962 in partnership with the country's government and other international banks. The same process was followed in Senegal, Cameroon and Morocco (where the Group was already present in 1913).
Societe Generale Group then underwent a second stage of development on the African continent at the end of the 1990s: Burkina Faso, Equatorial Guinea, Tunisia, Algeria, Madagascar, Chad, Benin and Ghana.
Following a phase of stabilization of the scheme on the continent, Societe Generale entered a new phase in its development, with the opening of Société Générale Togo and of Societe Generale Moçambique.
Further to its geographical development, Societe Generale also launched alternative banking models. Thus, in 2013, Manko, an innovative financial institution, between micro-finance and traditional banking was launched in Senegal, with the aim of serving the populations without access to the traditional banking system.
In 2017, Societe Generale created YUP, a unique mobile money solution. After a successful launch in Côte d’Ivoire in Senegal, YUP was deployed in Burkina Faso, Cameroon, Guinea and Ghana in 2018.
With this historical presence and geographic network, Societe Generale is one of the Top 3 international banks in Africa today.
A strong network
Due to its historical anchorage, but also thanks to recognized expertise, Societe Generale is a leading bank in most African countries today, with large market shares (over 10% in more than half of the countries where the Group is present, and sometimes over 20%).