Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group has confirmed the execution of a share purchase agreement between Nedbank Group Limited and Bosquet Investments Limited.
Bosquet Investments Limited, the private investment vehicle of Alain Nkontchou has acquired 21.22 percent stake in Ecobank Transnational Incorporated earlier held by Nedbank Group Limited. This transaction is still subject to regulatory approvals.
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.
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.
Bosquet Investments Limited 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.
Alain Nkontchou expressed his enthusiasm regarding this development, saying “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 said, “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 added.
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 circa $1.2billion.
