Société Générale has officially wrapped up its operations in Mauritania. The French banking group has sold its entire stake in Société Générale Mauritanie to a consortium made up of Enko Capital and Oronte, finalizing a deal that was first disclosed in January. The move is part of a broader strategy to scale back its presence in several African markets, including Morocco, Congo, Chad, and Mozambique.
The new owners say they intend to strengthen the bank’s role in financing Mauritania’s economy, with a particular focus on strategic sectors such as mining, natural gas, agriculture, and small and medium-sized enterprises. They have not disclosed how much was paid for the acquisition.
Société Générale entered the Mauritanian market in 2007 and built a network of 11 branches serving close to 40,000 customers. According to figures released by the buyers, the subsidiary generated €35 million in net banking income in 2024, with a net profit of €9.9 million.
Enko Capital, headquartered in London, manages more than $1 billion in assets, all of them tied to African markets. Oronte serves as the investment vehicle for businessman Eric-Bastien Ballouhey.
