Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has confirmed a share purchase agreement under which Bosquet Investments Ltd., the private investment vehicle of Alain Nkontchou, will acquire a 21.22 per cent stake in the pan-African lender from Nedbank Group Ltd.
The transaction, subject to regulatory approvals, marks a major shift in ETI’s shareholder structure.
Enko Capital Management LLP served as lead financial advisor, with Absa Bank Limited’s Corporate and Investment Banking division acting as co-advisor.
Nedbank said the divestment aligns with its strategy of focusing on core markets in Southern and Eastern Africa, where it will continue to maintain ownership and operational control.
Commenting on the acquisition, Nkontchou expressed optimism about Ecobank’s future under the new arrangement.
“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 we will seize the opportunities ahead and lead the organisation into a new era of sustained success,” he said.
Ecobank Group CEO, Jeremy Awori, hailed the deal as a milestone in the bank’s growth trajectory.
“We are pleased to welcome Bosquet Investments Ltd. as a significant shareholder of ETI. Their investment is a strong vote of confidence in our Growth, Transformation and Returns strategy, our performance, and our people,” Awori noted.
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