Bosquet Investments Strikes Deal to Buy Nedbank’s 21.2% Shareholding in Ecobank Transnational
Ecobank Transnational Incorporated (ETI), parent of the pan-African Ecobank Group, has confirmed that Bosquet Investments Ltd., the private investment vehicle of ETI Board Chair Alain Nkontchou, will acquire a 21.22% shareholding from South Africa’s Nedbank Group Ltd.
The transaction, announced on August 15, 2025, is subject to regulatory approvals. Enko Capital Management LLP acted as lead advisor, with Absa Bank Limited (through its Corporate and Investment Banking division) serving as co-financial advisor.
The deal follows Nedbank’s strategic decision to refocus on its core markets in Southern and Eastern Africa, where it retains direct ownership and control of businesses. Nedbank has been a shareholder in Ecobank for 17 years.
Commenting on the agreement, Mr Nkontchou said: “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.”
Jeremy Awori, Group Chief Executive Officer of ETI, described the development as “a strong vote of confidence” in the bank’s Growth, Transformation and Returns strategy. He lauded Nkontchou’s longstanding leadership and expressed gratitude to Nedbank for its longstanding partnership, noting it will remain a valued commercial ally.
Ecobank, headquartered in Lomé, Togo, operates in 35 sub-Saharan African countries and serves more than 32 million customers across consumer, commercial, corporate and investment banking segments.
Bosquet Investments, owned by Alain Nkontchou, also reflects his wider interests as co-founder of Enko Capital, an Africa-focused asset management group with approximately US$1.2 billion in assets under management.
