The Société Générale Bank (SocGen), is the main financial advisor to the Liquefied Natural Gas (LNG) project in Mozambique, led by France’s TotalEnergies and Italy’s Eni, valued at 20 billion dollars.
SocGen is also betting on the green economy, and is making efforts to raise about 317 billion dollars, through its unit based in Ivory Coast, to finance sustainable projects in the coming years.
The bank, which has a presence in 19 African countries, has also been leveraging a three-year partnership with the Johannesburg-based Absa Group to expand its reach on the continent.
Société Générale (SocGen), maintains its interest in the African market despite geopolitical uncertainties and recovery from the covid-19 pandemic.
Even with these thorns, the French bank projects organic and dynamic growth in Africa, according to recent statements by Société Générale bank CEO Frederic Oudea.
The French lender’s business in Africa accounts for about eight percent of overall revenue, according to Oudea, and this should gradually expand.
