Societe Generale group confirmed the solid growth of its African operations, in line with its “Transform to Grow” strategic plan.

It gave the confirmation recently at a press trip in Dakar. As part of the launch of its “Grow with Africa” programme, the Bank also announced several initiatives in partnership with international, regional and local clients and institutions in order to meet sustainable development needs in Africa.

With its unique positioning in the region having operations in 19 African countries, has also enabled the Group to offer its customers the expertise and knowledge of an international bank combined with the proximity of its local banking networks.

In terms of individual customers, Societe Generale is looking toconsolidate its leadership positions in several countries (Côte d’Ivoire, Cameroon, Senegal, Guinea, etc.), specifically by drawing on the benefits of its high-end positioning, while remaining focused on improving customer satisfaction. The Bank is also forging ahead with its innovation strategy with the roll-out of YUP.

This e-wallet solution was launched in August 2017 and currently has over 300,000 e-wallets opened and almost 4,500 agents. YUP adds around 1,500 new customers per day and is aiming for one million customers and 8,000 agents by 2020.In order to deliver on this roadmap, Societe Generale is adapting its structure in Africa.

 Four regional divisions for Africa have been set up in Abidjan, Douala, Algiers and Casablanca, in addition to an organisation and IT system division in Casablanca. Specifically, this will enable the pooling of expertise, standardise processes and improve efficiency.

Finally, the Group is strengthening its teams in Africa. With a strong renewal in the managerial structure, many African staff members well connected to local economies are being promoted to top management positions. Several initiatives on training, equality – such as the partnership with “Women in Africa” – and collective intelligence are also playing a key role in the Group’s inclusive growth strategy.

Frédéric Oudéa, Chief Executive Officer of Societe Generale said: “Our long-standing presence in Africa makes Societe Generale an essential, well-placed player on the continent to serve as a unifying force around the challenge of responsibility and sustainably contributing to African growth.

This ambition is a key part of our strategic plan. This is why we are launching “Grow with Africa”, an initiative that involves all stakeholders seeking to provide solutions to the specific environment in which sustainable development in Africa is expanding, and who are convinced that the futures of Europe and Africa are more closely linked than ever.”