{"id":6836,"date":"2024-08-09T16:36:26","date_gmt":"2024-08-09T16:36:26","guid":{"rendered":"https:\/\/challengeseconomiques.com\/?p=6836"},"modified":"2024-08-09T16:36:59","modified_gmt":"2024-08-09T16:36:59","slug":"societe-generale-le-casse-tete-concernant-la-cession-de-la-filiale-ivoirienne","status":"publish","type":"post","link":"https:\/\/challengeseconomiques.com\/?p=6836","title":{"rendered":"Soci\u00e9t\u00e9 G\u00e9n\u00e9rale : le casse-t\u00eate concernant la cession de la filiale ivoirienne"},"content":{"rendered":"<div class=\"itemIntroText\">\n<p class=\"texte textearticle\"><strong>\u00a0La cession de SGCI reste un d\u00e9fi, compte tenu notamment de son implantation dans une \u00e9conomie \u00e0 fort potentiel. <\/strong><\/p>\n<p class=\"texte textearticle\">Le groupe bancaire fran\u00e7ais Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, lanc\u00e9 dans un programme de d\u00e9sengagement en Afrique, se heurtera \u00e0 des arbitrages majeurs pour la cession de sa filiale en C\u00f4te d&rsquo;Ivoire. Au-del\u00e0 des enjeux politiques et de sa position dominante dans l&rsquo;UEMOA, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale C\u00f4te d&rsquo;Ivoire (SGCI) pr\u00e9sente un niveau de valorisation qui restreint s\u00e9rieusement le nombre de repreneurs potentiels.<\/p>\n<p class=\"texte textearticle\">Contrairement au Maroc o\u00f9 Soci\u00e9t\u00e9 G\u00e9n\u00e9rale a c\u00e9d\u00e9 sa filiale au groupe Saham dans un march\u00e9 bancaire mature, l&rsquo;Afrique subsaharienne pr\u00e9sente un contexte diff\u00e9rent. Des solutions ont \u00e9t\u00e9 trouv\u00e9es pour des filiales plus modestes, notamment en R\u00e9publique du Congo, au Tchad, au Mozambique, au Benin et au Togo. Mais la situation en C\u00f4te d&rsquo;Ivoire s&rsquo;annonce plus complexe.<\/p>\n<p class=\"texte textearticle\">SGCI, valoris\u00e9e \u00e0 environ 637 milliards FCFA (1,02 milliard\u00a0$) en bourse, affiche un potentiel de croissance estim\u00e9 \u00e0 32% par certains analystes. Son ratio cours\/b\u00e9n\u00e9fice sugg\u00e8re une marge de progression sur la BRVM d&rsquo;Abidjan. Cela implique qu\u2019au moment de la fixation du prix de vente, cette opportunit\u00e9 de plus-value sera prise en compte, ce qui devrait tirer les prix de cession vers le haut.<\/p>\n<p class=\"texte textearticle\">La performance financi\u00e8re audit\u00e9e de SGCI en 2023 est notable, avec un b\u00e9n\u00e9fice net en hausse de 30,1%, d\u00e9passant sa moyenne quinquennale de 16%. Selon des donn\u00e9es consult\u00e9es par l&rsquo;<em>Agence Ecofin<\/em>, plusieurs indicateurs placent SGCI au-dessus de ses pairs internationaux. Le rendement des capitaux propres de 26,7% en 2023, combin\u00e9 \u00e0 une r\u00e9duction de l&rsquo;endettement, t\u00e9moigne d&rsquo;une gestion efficace. De plus, SGCI a r\u00e9guli\u00e8rement augment\u00e9 ses dividendes depuis 2018, renfor\u00e7ant son attrait pour les investisseurs.<\/p>\n<p class=\"texte textearticle\">Par ailleurs, la cession de SGCI reste un d\u00e9fi, compte tenu de son implantation dans une \u00e9conomie \u00e0 fort potentiel. La C\u00f4te d&rsquo;Ivoire, premier producteur mondial de cacao et futur acteur majeur dans le p\u00e9trole, le gaz et l&rsquo;or, offre des perspectives de croissance parmi les plus \u00e9lev\u00e9es d&rsquo;Afrique subsaharienne. Une hypoth\u00e8se forte serait qu&rsquo;une piste de solution soit trouv\u00e9e en Afrique du Sud. Plusieurs groupes bancaires de ce pays ont en ligne de mire l&rsquo;Afrique de l&rsquo;Ouest francophone et, de ce point de vue, Ecobank dont le premier actionnaire est le sud-africain Nedbank pourrait \u00eatre un cas d&rsquo;\u00e9tude s\u00e9rieux.<\/p>\n<p><strong>(Agence Ecofin)<br \/>\n<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0La cession de SGCI reste un d\u00e9fi, compte tenu notamment de son implantation dans une \u00e9conomie \u00e0 fort potentiel. Le groupe bancaire fran\u00e7ais Soci\u00e9t\u00e9 G\u00e9n\u00e9rale,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":6837,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualite-economique","wpcat-8-id"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Soci\u00e9t\u00e9 G\u00e9n\u00e9rale : le casse-t\u00eate concernant la cession de la filiale ivoirienne - challenges economiques<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/challengeseconomiques.com\/?p=6836\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soci\u00e9t\u00e9 G\u00e9n\u00e9rale : le casse-t\u00eate concernant la cession de la filiale ivoirienne - challenges economiques\" \/>\n<meta property=\"og:description\" content=\"\u00a0La cession de SGCI reste un d\u00e9fi, compte tenu notamment de son implantation dans une \u00e9conomie \u00e0 fort potentiel. 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