Societe Generale Securities Services to offer custody services in Cameroon 

French bank expands African presence with custody and issuer services in Cameroon. 

By Jonathan Watkins

Societe Generale Securities Services (SGSS) will offer custody and issuer services in Cameroon, expanding its offering within Africa.  

The French headquartered bank already offers securities services in Morocco, Tunisia and in the West African Economic and Monetary Union (WAEMU). 

Connected to the SWIFT interbank network, Societe Generale said the aim is to offer international standards in terms of managing instructions and securities operations in the region. A dedicated issuer service for Cameroonian businesses will also be available.

Societe Generale has provided banking services in the country for 50 years and will lean on the knowledge and experience of its local team. 

In January 2019, Societe Generale agreed to sell its South African custody, trustee and clearing business to Absa Group, while also announcing it will shut down its securities lending and borrowing services. 

Societe Generale said at the time the sale was in line with its strategic plan where its primary objectives are to focus on markets where it can generate potential synergies with other group businesses.