Published by Global Banking & Finance Review®
Posted on January 17, 2025
1 min readLast updated: January 27, 2026
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Societe Generale has agreed to sell its Mauritania subsidiary to a consortium led by Enko Capital, continuing its strategy to reduce African operations.
PARIS (Reuters) - 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.
(Reporting by Mathieu Rosemain; editing by Jason Neely)
The article discusses Societe Generale's sale of its Mauritania subsidiary to a consortium led by Enko Capital.
SocGen is reducing its African business presence, following a strategy similar to other European banks.
The consortium is led by asset manager Enko Capital.
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