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| Ghanaian businessman,Daniel Ofori |
According to Billionaires.Africa data, Ofori's stake in Societe Generale Ghana has decreased by more than $1.5 million since the beginning of the year. This decline is attributed to the bank's share price decline and the depreciation of the Ghanaian cedi.
Societe Generale Ghana, Ghana's fourth-largest bank, is a subsidiary of Societe Generale, a renowned French multinational investment bank headquartered in Paris. The bank is one of 17 subsidiaries of its parent company in Africa, with approximately 45 branches spread across Ghana.The bank's shares were trading at GH0.90 ($0.071) at the time of writing, giving the Accra-based financial services provider a market capitalization of GH638 million ($50.4 million).Ofori, a well-known Ghanaian businessman and the wealthiest investor on the Ghana Stock Exchange, owns 6.8 percent of Societe Generale Ghana, or 48,241,241 shares, making him the bank's largest individual shareholder.According to data compiled by Billionaires.Africa, the market value of his stake in the bank has dropped from GHC48.24 million ($4.94 million) on January 1 to GHC43.41 million ($3.43 million) at the moment.The decline is mainly attributed to the depreciation of the Ghanaian cedi and the fall in the bank's share price. Despite the drop in his wealth by $1.5 million, Ofori still retains his position as the richest investor on the Ghana Stock Exchange.
Societe Generale Ghana, Ghana's fourth-largest bank, is a subsidiary of Societe Generale, a renowned French multinational investment bank headquartered in Paris. The bank is one of 17 subsidiaries of its parent company in Africa, with approximately 45 branches spread across Ghana.The bank's shares were trading at GH0.90 ($0.071) at the time of writing, giving the Accra-based financial services provider a market capitalization of GH638 million ($50.4 million).Ofori, a well-known Ghanaian businessman and the wealthiest investor on the Ghana Stock Exchange, owns 6.8 percent of Societe Generale Ghana, or 48,241,241 shares, making him the bank's largest individual shareholder.According to data compiled by Billionaires.Africa, the market value of his stake in the bank has dropped from GHC48.24 million ($4.94 million) on January 1 to GHC43.41 million ($3.43 million) at the moment.The decline is mainly attributed to the depreciation of the Ghanaian cedi and the fall in the bank's share price. Despite the drop in his wealth by $1.5 million, Ofori still retains his position as the richest investor on the Ghana Stock Exchange.
This is due to his well-diversified investment portfolio, which comprises holdings in various companies, including GCB Bank, Fan Milk Plc, CAL Bank, and Societe Generale Ghana.
Story By Shepherd Media.
