Ouagadougou, 8 June 2023 – Vista Group today announces that it has agreed to acquire Société Générale’s banks of Société Générale Congo (in Congo Brazzaville) and Société Générale de Banques in Guinée Équatoriale, which will further enlarge its existing sub-Saharan African footprint.
Simon Tiemtore, Chairman of Vista Group said: “Our agreements to acquire Société Générale’s banks in Congo Brazzaville and Equatorial Guinea add two key Central African countries to our portfolio and represent key progress in our expansion strategy which is to become a pan-African financial services group with operations in 25 countries. This will also further Vista’s aim to support the African economic growth.”
The Vista Group, which is owned by Lilium Group, provides a full range of innovative and accessible banking services to everyone, especially women and SMEs, to drive financial inclusion, economic growth and prosperity in its countries of operation.
After the completions of the transaction, Vista Group will acquire all of Société Générale’s shares in Société Générale Congo and Société Générale de Banques in Guinée Equitoriale, 93.5% and 57.2% respectively. Consequently, Vista Group will be taking over all of the activities operated by Société Générale in those 2 markets.
The acquisition is subject to the approval of the relevant regulatory and financial authorities.
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About Vista Group
Vista Group (Vista) is a financial services holding company with the objective of building a world-class pan-African financial institution group and contributing to economic and financial inclusion in Africa.
Vista has entered into strategic partnerships with various global financial institutions to drive its growth strategy by focusing on MSME (SME banking, leasing, mesofinance, banking on women), trade and supply chain finance, bancassurance increasing profitability while controlling operating costs and mitigating risks.
Vista is focused on maximising the opportunities in its respective markets to become the financial institution of choice through innovative banking and insurance products.