Bosquet Investments Acquires 21.22% Stake in Ecobank from Nedbank

Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, has confirmed the signing of a purchase agreement between Nedbank Group Ltd. and Bosquet Investments Ltd., the private investment vehicle of Alain Nkontchou, for the acquisition of a 21.22% stake in the pan-African banking group. The transaction is subject to regulatory approvals.

Enko Capital Management LLP acted as lead advisor, while Absa Bank Limited, through its Corporate and Investment Banking division, served as co-financial advisor.

The sale forms part of Nedbank’s strategy to refocus on its core markets in Southern and Eastern Africa, where it owns and operates directly controlled businesses. Nedbank has been a shareholder in ETI for 17 years and will remain a commercial partner to the group.

Alain Nkontchou, founder of Bosquet Investments and a long-time Ecobank insider, welcomed the agreement.

“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,” he said.

Ecobank Group Chief Executive Officer Jeremy Awori described Bosquet Investments’ entry as a significant vote of confidence in ETI’s Growth, Transformation and Returns strategy.

“Having been part of the bank’s journey for many years, initially as a Board member and later as ETI Chairman, Alain has shown unwavering dedication, strategic vision, and leadership that have contributed to the bank’s achievements and return to profitability,” Awori noted.

He added that the group looks forward to working closely with Bosquet Investments to pursue shared goals of growth, innovation, and excellence, while also expressing gratitude to Nedbank for nearly two decades of constructive partnership.

Ecobank operates a network spanning 33 African countries, serving retail, commercial, corporate, and investment banking clients across the continent.