The synergies at the heart of our African strategy
One of Societe Generale's major growth drivers in Africa is strengthend teamwork among the Group's African subsidiaries.
Today, we have strong synergies in several areas:
- Among our various business lines: Within the Global Banking and Investor Solutions division: Private Banking in Morocco, Trading Floor in Morocco and Côte d’Ivoire, structured financing platform, etc. Within Transactional Banking: cash management services and reinforcement of Trade Finance capacities.
- Among our various locations: For example, China is now the leading investor on the continent. We are accompanying this movement through innovative initiatives such as our Africa Express service in partnership with our subsidiary in China: a harmonised solution reserved for major Chinese clients operating in Africa, distributed by Chinese client advisors at some of our subsidiaries. We are putting in place a similar initiative with Indian and Moroccan clients.
Societe Generale also plans to enhance its range of products and services for individuals, drawing on synergies with other entities, in order to make its mark as a “developer of user-services”.
- Roll-out of a range of pan-African mobile banking services
- Expansion of its private banking and insurance products and services to other countries, including Sub-Saharan Africa.
- Development of new branch formats
" Whether it's Corporate and Investment Banking, transactional banking, market products or private banking, having the strategies of our business lines in perfect alignment allows for greater responsiveness, and therefore continuous improvement in business service quality, in line with international standards. "
Jean-Luc Parer, Co-Head of International Banking and Financial Services