Alain Nkontchou's private investment vehicle buys Nedbank stake in Ecobank
Nedbank Group has agreed to sell a 21.22% stake in Ecobank to Bosquet Investments.
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Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, said Nedbank Group has agreed to sell a 21.22% stake in ETI to Bosquet Investments. The transaction is subject to regulatory approval.
Bosquet Investments is Alain Nkontchou's private investment vehicle. Additionally, Nkontchou is the co-founder and managing partner of Enko Capital, an African-focused asset management group established in 2008 with his brother Cyrille Nkontchou.
The sale follows Nedbank’s decision to realign its strategy towards its core markets in Southern and Eastern Africa.
Alain Nkontchou expressed his enthusiasm regarding the deal: “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, CEO of Ecobank Group, commented: “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.”
“Having been part of the bank’s journey for many years, initially joining as a member of the board of directors, then serving as ETI chairman, 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,” he added.
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