Ecobank Transnational Incorporated (ETI), parent of the pan-African Ecobank Group, has confirmed a deal for Bosquet Investments Ltd., the private investment vehicle of ETI Board Chair Alain Nkontchou, to acquire a 21.22% stake from South Africa’s Nedbank Group Ltd.
The transaction, announced on 15 August 2025, is subject to regulatory approvals
Enko Capital Management LLP served as the lead advisor for the transaction, while Absa Bank Limited (acting through its Corporate and Investment Banking division) was appointed as the co-financial advisor.
The sale follows Nedbank’s decision to realign its strategy towards its core markets in Southern and Eastern Africa where the Group owns and controls businesses.
Alain Nkontchou expressed his enthusiasm regarding this development: “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, 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.
“I am grateful for his continued trust and partnership, and I look forward to working together to realize a shared vision of growth, innovation, and excellence. I also take the opportunity to extend deep appreciation to Nedbank for 17 years of constructive partnership. They remain a valued commercial partner of Ecobank”, Awori concluded.
About Ecobank Group (or ‘Ecobank Transnational Incorporated’ or ‘ETI’)
Ecobank Group is the leading private pan-African financial services group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment.
The Group employs over 14,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers.
About Bosquet Investments Ltd.
Bosquet Investments Ltd. is the private investment vehicle of Alain Nkontchou. He has been a member of the Board of Directors of Ecobank Transnational Incorporated (ETI) since 2014 and served as ETI Chairman from 2020 to 2024.
Additionally, Alain 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 group manages alternative and traditional investment funds across Africa and has assets under management of c.US$1.2bn.
