Société Générale: partners Absa in Africa

(CercleFinance.com) - Société Générale announces a memorandum of understanding with Absa Group Limited, to implement a commercial contract that will enable them to develop their activities by offering a pan-African scope of banking services to corporate clients.


"This will also enable them to boost client coverage beyond their own traditional markets through an extended offering across 27 countries in Africa?" Société Générale said.

Furthermore, Absa has signed a separate agreement to acquire the conservation, Custodian Bank and derivatives clearing operations conducted by Société Générale in South Africa, a transaction subject to regulatory approvals, which are expected by the end of 2019.



Copyright (c) 2019 CercleFinance.com. All rights reserved.