Vista Group Boosts Expansion with Acquisition of Société Générale’s Banks in Burkina Faso, Moçambique

Vista Group Thursday announced that it has agreed to acquire Société Générale Burkina Faso and Banco Société Générale Moçambique, which will further enlarge its existing in Africa.

Chairman of Vista Group, Simon Tiemtore explained that the firm’s agreements to acquire Société Générale Burkina Faso and Banco Société Générale Moçambique, which is confirm to Vista Bank Group becomes a pan-African financial services group with operations in 25 countries.

According to him, this will further Vista’s aim to support the African economic growth.

The Vista Group, which is owned by Lilium Group, provides a full range of innovative and accessible banking services to everyone, especially for retail banking, SMEs, corporate banking and States to drive financial inclusion, economic growth and prosperity in its countries of operation.

After the completions of the transaction, Vista Group will acquire all of Société Générale Burkina Faso and Banco Société Générale Moçambique, accordingly 52,6 per cent and 65 per cent. Consequently, Vista Group will be taking over  all the activities operated by these subsidiaries, as well as all the client portfolios and all the employees of these entities.

The acquisition is subject to the approval of the relevant regulatory and financial authorities