Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, on Friday 15th August 2025, announced that Bosquet Investments Ltd., the private investment vehicle of Alain Francis Nkontchou, former director and chairman of ETI, has entered into an agreement to acquire a 21.22% stake in ETI from Nedbank Group Ltd. for $100 million. The transaction, which is subject to regulatory approvals, marks a significant shift in the ownership structure of ETI and ends a 17-year alliance between Nedbank and Ecobank.
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The acquisition follows Nedbank’s strategic decision to focus on its core markets in Southern and Eastern Africa, where it holds controlling interests in its operations. The South African lender became Ecobank’s largest shareholder in 2008 through a $500 million investment, which was formalized into a strategic partnership in 2014. The sale of its 21.22% stake reflects Nedbank’s realignment toward markets where it has greater operational control. Enko Capital LLP act as the lead advisor for the transaction, with Absa Bank Limited’s Corporate and Investment Banking division serving as co-financial advisor.
Bosquet Investments Ltd. is wholly owned by Alain Nkontchou, a prominent figure in African finance. Nkontchou served on Ecobank’s Board of Directors from 2014 and as ETI Chairman from 2020 to 2024. Beyond his role at Ecobank, he is the Co-founder and Managing Partner of Enko Capital, an African-focused asset management group established in 2008 alongside his brother, Cyrille Nkontchou. Enko Capital manages alternative and traditional investment funds across the continent, with assets under management totaling approximately US$1.2 billion.
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