• AFG Holding completes acquisition of Société Générale Guinée as part of regional growth plans.
• The deal keeps all existing customer services and staff to ensure smooth operations.
• Société Générale exits Guinea, continuing its strategic African portfolio streamlining since 2023.

On August 11, 2025, AFG Holding, the Atlantic group’s financial arm, announced it had finalised the takeover of Société Générale Guinée from French banking giant Société Générale. The financial terms remain confidential.

The acquisition marks a significant step in AFG’s regional expansion strategy. Founded four decades ago by Ivorian entrepreneur Koné Dossongui, the group already has operations in 13 African countries and the Indian Ocean. It plans to use the deal to boost its role in financing local economies and speeding up the digital shift in financial services.

“Our ambition is to build a robust African banking group dedicated to the continent’s economic growth,” said Léon Konan Koffi, AFG Holding’s Chairman. “We believe Guinea holds enormous development potential and are committed to supporting its growth over the long term.”

AFG Holding said all Société Générale Guinée’s customer services will remain in place and the bank’s staff will be retained, ensuring operational continuity.

The deal also marks Société Générale’s exit from Guinea, where it previously held a majority stake. The move aligns with the French lender’s strategy over the past two years to streamline its African portfolio. Since 2023, it has sold several subsidiaries, including its Mauritanian operations, taken over by the Enko Capital–Oronte consortium.

SG