Conakry, September 19, 2025 – Thiam & Associés advised Société Générale on the sale of its entire shareholding in Société Générale Guinée to Atlantic Financial Group (AFG), a pan-African banking group, marking AFG’s entry into the Guinean banking market.
The Share Purchase Agreement was signed on 19 September 2024, and the transaction reached a key milestone with the final approval of the Central Bank of the Republic of Guinea (BCRG) on 5 July 2025, enabling completion of the deal.
Our team acted throughout the entire regulatory process, advising on banking law, foreign investment regulations, and change-of-control procedures applicable to licensed credit institutions under Guinean law. The firm provided comprehensive legal support, including transaction structuring, drafting and review of key documentation, and coordination with the relevant regulatory authorities.
The transaction involved significant legal and strategic complexity, notably due to the strict regulatory framework governing changes of ownership in licensed financial institutions. It also represented Atlantic Financial Group’s first acquisition in the Republic of Guinea, requiring careful alignment with the BCRG’s expectations in a sensitive and evolving financial regulatory environment.
Société Générale was also advised by Gide Loyrette Nouel, while Willkie Farr & Gallagher LLP acted as counsel to Atlantic Financial Group.