Mauritania: Enko Capital in banking deal
The Enko Capital-Oronte consortium has finalised the 100% acquisition of Société Générale Mauritania.
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The Enko Capital-Oronte consortium has finalised the 100% acquisition of Société Générale Mauritania (SGM). This follows the granting of regulatory approval by the Central Bank of Mauritania.
This now fully effective transaction marks the exit of the Société Générale Group, SGM’s reference shareholder since 2007.
Enko Capital, an independent investment management company based in London with over $1 billion in assets under management, specialises in investing across the African continent. It is led by Alain and Cyrille Nkontchou.
Oronte has been an active investor in Mauritania since 1999, represented by Bastien Ballouhey, the bank’s historic founder in 2004 and a central figure in its development for nearly two decades.
“This acquisition reflects our confidence in the potential of the Mauritanian economy and our commitment to investing in a resilient banking sector that supports development,” said Cyrille Nkontchou, co-founder of Enko Capital.
“We intend to support the country’s growth with modern banking solutions tailored to the needs of the local economy, while strengthening governance, service quality, and the bank’s impact,” added Bastien Ballouhey, representing Oronte.
The bank will continue its activities with an emphasis on continuity, led by a confirmed management team. Nicolas Roca, CEO of SGM from 2021 to late 2023, will resume his role at the helm of the institution. He will support this new phase alongside the consortium, ensuring a smooth and seamless transition for clients.
This new chapter will be driven by a clear strategic focus: modernising the bank’s service offering, investing in digitalisation, strengthening governance, and deepening the bank’s role in financing key sectors of the Mauritanian economy.
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