Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, has confirmed the signing of a purchase agreement under which Bosquet Investments Ltd., the private investment vehicle of Alain Nkontchou, will acquire a 21.22 per cent stake in the pan-African banking group from Nedbank Group Ltd.
The transaction, which is subject to regulatory approvals, marks a significant change in ETI’s shareholder structure.
Enko Capital Management LLP acted as the lead financial advisor on the deal, with Absa Bank Limited, through its Corporate and Investment Banking division, serving as co-financial advisor.
The sale is in line with Nedbank’s strategic realignment towards its core markets in Southern and Eastern Africa, where it retains ownership and operational control of its businesses.
Commenting on the acquisition, Nkontchou expressed optimism about the future of the bank under the new shareholding arrangement.
“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,” he said.
Ecobank Group Chief Executive Officer, Jeremy Awori, described the transaction as an important milestone in the bank’s growth journey.
“We are pleased to welcome Bosquet Investments Ltd. as a significant shareholder of ETI. Their investment is a strong vote of confidence in our Growth, Transformation and Returns strategy, our performance, and our people,” Awori stated.
Awori noted that Nkontchou’s longstanding association with Ecobank—first as a Board member and later as ETI Chairman—has been instrumental in steering the bank to profitability through strategic vision and leadership.
He expressed gratitude for Nkontchou’s continued partnership and also acknowledged Nedbank for its 17-year constructive relationship with Ecobank, which will continue on a commercial basis despite the share sale.
ETI operates in 35 African countries and maintains a presence in other international financial hubs, positioning itself as one of the continent’s most geographically diversified banking groups.