Africa’s best bank for transaction services 2023: Societe Generale
Africa’s best bank for transaction services, Societe Generale operates in 19 countries in Africa, with 4.3 million clients, including 175,000 corporate clients. Its global transaction and payment services team is led by Alexandre Maymat.
Societe Generale’s net banking income in Africa rose 20% to €1.8 billion last year and that’s partly thanks to its transaction services franchise, which benefits from its local banking presence in Africa as well as its international expertise and network, especially in areas such as structured trade finance.
In cash management, Societe Generale has rolled out a new web and mobile-based offer named MyBusiness in Africa. It has also strengthened its local currency clearing capabilities and offered compliance training for its correspondent banking clients. For small and medium-sized enterprises it is also developing its reverse factoring solutions on the continent.