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Société Générale accelerates strategic withdrawal from the African market

French banking group Société Générale is moving forward with strategic withdrawals from several African markets, including Morocco, Cameroon and Guinea, and according to a report by Jeune Afrique, it shows significant changes in the continent's financial landscape. This withdrawal is part of a broad trend by Western financial institutions to “exclude risk” due to increased regulatory capital requirements and the strategic decision to focus on core markets with less complexity and higher returns. This move presents dual challenges and opportunities for Africa. It can disrupt corporate credit and access to established banking relationships, but at the same time opens up important opportunities for local and regional African banks to gain market share, expand operations and strengthen domestic financial sovereignty.