Societe Generale announced on Thursday that it had signed two agreements with the Vista Group for the total sale of its shares in two local subsidiaries in Burkina Faso and Mozambique.

Groupe Vista would take over all the activities operated by Société Générale's subsidiaries in Burkina Faso and Mozambique, in which the French bank holds 52.6% and 65% respectively, it said in a press release.

The completion of each of these operations could take place in 2024, the group added.

SocGen, which did not disclose the financial details of the transactions, will still be present in 10 African countries.

The group had previously announced the sale of four other African subsidiaries in Congo, Equatorial Guinea, Mauritania and Chad. (Written by Dagmarah Mackos, edited by Kate Entringer)