Banco Société Générale Moçambique: Established, Respected, Clear on Priorities, and Transparent in All its Dealings

Mozambique institution has a major European player as a shareholder — and an A rating from S&P…

With a presence in the country since 2015, Banco Société Générale Moçambique is a member of the Société Générale Group, one of the major players in the European Financial Sector.

The bank has achieved a coveted A rating from S&P, and is part of one of the three largest international groups present in Africa. The deep knowledge and specialist expertise acquired over more than a century on the continent has made BSGM the first choice to serve corporate, SME and individual sectors.

The commercial banking model developed by Banco Société Générale Moçambique is based on a foundation of excellent service to its clients, the specialisation of its advisors — and efficiency in day-to-day transactional banking, with a competitive edge and swift execution in international trades.

Established in year 1999 as União Comercial de Bancos Moçambique SARL (UCB), and later renamed Mauritius Commercial Bank Mozambique, Société Générale Group acquired the bank in October 2015. Société Générale, which holds the majority 65 percent stake, chose the new title: Banco Société Générale Moçambique.

The bank embarked on a process of transformation and expansion, growing resource and development units to create a fully-fledged SG subsidiary.

Clear Vision

Building and growing with its clients and customers, BSGM has developed innovative solutions for sustainable and inclusive growth in Mozambique. It prides itself on offering an excellent customer experience, reliability, expertise — and benefits from the solid backing of the established international reputation of the Société Générale Group.

“The bank has achieved a coveted A rating from S&P, and is part of one of the three largest international groups present in Africa.”

With more than 150 years behind it, the group has built on solid values: Innovation, commitment, responsibility, and team spirit. The Banco Société Générale Moçambique team has taken on these values, using them to create its foundation. It has worked well for all concerned, building innovative and sustainable relationships and solutions for the development of Mozambique, working side-by-side with the client base and partners.

The man at the helm of Banco Société Générale Moçambique is chief executive Ridha Tekaïa. He is a multinational expert in the financial sector, having held many senior positions over the past 30 years. He held the CEO post at Reunion, Mayotte, in Moldova, and in Algeria. He was also commercial head director at the Czechia office, and the head of corporate affairs in Cameroon.

Tekaïa was named CEO of Société Générale Bank in July 2022, and is supported by a strong and dedicated management team.