Bosquet Investments acquires 21.22% stake in Ecobank from Nedbank

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has announced that Bosquet Investments Ltd, the private investment vehicle of Alain Nkontchou, has signed a purchase agreement with Nedbank Group Ltd. to acquire its 21.22% stake in ETI. The deal is subject to regulatory approvals.

Enko Capital Management LLP acted as lead advisor on the transaction, while Absa Bank Limited, through its Corporate and Investment Banking division, served as co-financial advisor.

The sale is in line with Nedbank’s strategic decision to refocus on its core markets in Southern and Eastern Africa, where it directly owns and controls businesses.

Commenting on the acquisition, Alain Nkontchou said: “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.”

Jeremy Awori, Chief Executive Officer of Ecobank Group, welcomed Bosquet Investments as a new strategic shareholder, describing the transaction as a strong vote of confidence in the bank’s growth and transformation agenda.

“Having been part of the bank’s journey for many years, initially as a Board member and later as ETI Chairman, Alain has shown unwavering dedication, strategic vision, and leadership that have contributed significantly to Ecobank’s achievements, including its return to profitability,” Awori said.

He also expressed appreciation to Nedbank for its 17-year partnership with Ecobank, noting that the South African lender remains an important commercial partner despite its exit as a shareholder.