Ecobank Transnational Incorporated (ETI), the parent company of the pan-African Ecobank Group, has announced that Nedbank Group has reached an agreement to divest its 21.22% equity stake in ETI to Bosquet Investments, a private investment vehicle owned by Alain Nkontchou. The transaction is currently pending regulatory approval.
This strategic move aligns with Nedbank’s broader decision to refocus its investment strategy on its core markets in Southern and Eastern Africa, marking a shift away from its long-standing position in ETI.
Bosquet Investments, led by Alain Nkontchou, represents a deepening of commitment to Ecobank’s future. Nkontchou is also the co-founder and managing partner of Enko Capital, an asset management firm dedicated to African markets, which he established in 2008 alongside his brother, Cyrille Nkontchou.
Expressing his enthusiasm for the acquisition, Alain Nkontchou stated:
I am very pleased to have come thus far with the Ecobank Group, and I look forward to supporting the institution in advancing its strategic objectives of growth, transformation, and returns. I am confident that, together, we will seize the opportunities ahead and lead the organisation into a new era of sustained success.
Nkontchou’s involvement with Ecobank spans several years, having served as a member of the board of directors and later as Chairman of ETI, where he played a pivotal role in steering the bank toward profitability and operational resilience.
Jeremy Awori, CEO of Ecobank Group, welcomed the development, saying:
We are pleased to welcome Bosquet Investments Ltd. as a significant shareholder of ETI. This important milestone reflects a deep and enduring commitment to our group’s growth and success. Their investment is a strong vote of confidence in our growth, transformation and returns strategy, our performance, and our people.
Awori further acknowledged Nkontchou’s longstanding contributions to the bank:
Having been part of the bank’s journey for many years, Alain has demonstrated unwavering dedication, strategic vision, and leadership that have significantly contributed to the bank’s achievements, bringing the bank to an era of profitability.
The transaction marks a new chapter for ETI, reinforcing its strategic direction and shareholder base as it continues to expand its footprint across Africa and strengthen its position as a leading financial institution on the continent.
