Togo is the next destination of the French bank “Société générale“. It has just made an application for approval with the Togolese authorities. The installation of the Bank in Togo aims at diversifying the risks of its Beninese subsidiary.
The favorable climate for business in Togo has been attracting foreign investors since a few years. The latest is the French “Société Générale“. Worried about the difficult economic environment in Benin, Laurent Mortreuil, managing director of SG wished to diversify the risks with the creation of another subsidiary in Togo.
Africa is not however the main market of the French bank. The activities of the “Société Générale” decreased at 30, 7 % with regard to the year 2012. This part of the world represents only 4, 85 % of the net income of the bank.
The “Société Générale” is established in Equatorial Guinea, Ivory Coast, Benin, Burkina Faso, Guinea, Cameroon, Ghana, Senegal, Chad, Morocco, Algeria and Tunisia.
Original text by: Roger ADZAFO