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News

News

21/06/2018

Minimum Capital Reached

Societe Generale Ghana has increased its stated capital to GHS 404,245,426.72 via a Bonus Issue of GHS 97,000,000.00 and a Rights Issue of GHS 168,942,501.90, thus meeting the Bank of Ghana’s directive issued in September 2017.

Societe Generale Ghana has increased its stated capital to GHS 404,245,426.72 via a Bonus Issue of GHS 97,000,000.00 and a Rights Issue of GHS 168,942,501.90, thus meeting the Bank of Ghana’s directive issued in September 2017.

Bank of Ghana in accordance with Section 28 (1) of the Banks & Specialised Deposit Taking Institutions Act 2016 Act 930 announced for the information of Banks and the general public that it had revised upward the minimum paid up capital for existing banks and new entrants from GHS 120 million to a new level of GHS 400 million under several conditions to be met by December 2018.
Work on recapitalisation commenced in 2017 when our Board of Directors, Management and Shareholders together with the Sponsoring Broker, Financial and Legal Experts worked assiduously to comply with the Bank of Ghana directive in record time.
We obtained Shareholders’ authorisation at our 38th Annual General Meeting on 28th March 2018. The increase in stated capital was through a Bonus Issue by the transfer from Income Surplus to Stated Capital of GHS 97 million backed by a bonus share of 6 to 1, and a renounceable Rights Issue to raise up to GHS 170 million.

The Bank of Ghana, the Securities and Exchange Commission and the Ghana Stock Exchange rightfully approved the Bonus Issue and the Rights Issue.

This effort has strengthened our capital base to enable us engage in higher volumes of financial transactions. Further, the new capitalisation will make it possible for us to position the Bank to take advantage of the huge opportunities in the Ghanaian industry. It will also enhance our competitive edge and enable us deal with new challenges.

07
Jun
2019
SG Ghana Open Day
Interested in knowing more about Societe Generale Ghana?
NEWS
Interested in knowing more about Societe Generale Ghana?
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14
May
2019
Management and staff of SG Ghana support Ghana Heart Foundation with GHC 160,000
Management and Staff of Societe Generale Ghana, together made a donation amount of GHS 160,000.00 to the Ghana Heart...
NEWS
Management and Staff of Societe Generale Ghana, together made a donation amount of GHS 160,000.00 to the Ghana Heart Foundation to support the Foundation in the area of health care delivery.
en/news/news/management-and-staff-ghana-support-ghana-heart-foundation-with-ghc160-000/
21
Jun
2018
Minimum Capital Reached
Societe Generale Ghana has increased its stated capital to GHS 404,245,426.72 via a Bonus Issue of GHS 97,000,000.00 and...
NEWS
Societe Generale Ghana has increased its stated capital to GHS 404,245,426.72 via a Bonus Issue of GHS 97,000,000.00 and a Rights Issue of GHS 168,942,501.90, thus meeting the Bank of Ghana’s directive issued in September 2017.
en/news/news/minimum-capital-reached/
18
Dec
2017
SG Ghana Connect
SG GHANA CONNECT is a mobile banking app which allows you to have access to your bank 24/7 as well as carry out...
NEWS
SG GHANA CONNECT is a mobile banking app which allows you to have access to your bank 24/7 as well as carry out transactions on your smartphones. It can be downloaded from the AppStore and PlayStore.
en/news/news/ghana-connect/
19
Sep
2017
2019 Receive and Win Promotion
You deserve a better bank and great rewards Save with THE trustworthy bank, SG Ghana, to win big! Deposit as little...
NEWS
You deserve a better bank and great rewards Save with THE trustworthy bank, SG Ghana, to win big! Deposit as little as GHS 200 for your chance of being one of three lucky people to win a brand new CAR! Deposit early to double your chances! YES! Win a brand new car. Just deposit a minimum of GHS 200 and you could drive off in a trendy new Suzuki Baleno!...
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