WorldStage Newsonline– Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has Bosquet Investments Ltd. has acquired a 21.22 per cent stake from Nedbank Group Ltd.
ETI in a corporate statement through the Nigerian Exchange Ltd. on Friday noted that the transaction remains subject to regulatory approvals.
It said Bosquet Investments is the private investment vehicle of Mr Alain Nkontchou, former Chairman of ETI.
According to the statement, Enko Capital Management LLP acted as lead advisor, while Absa Bank Ltd. served as co-financial advisor.
It explained that the divestment aligns with Nedbank’s decision to focus on core markets in Southern and Eastern Africa, where it has established businesses.
Expressing enthusiasm, Alain Nkontchou said he was pleased to reach this stage with Ecobank Group, and looked forward to supporting its strategic objectives of growth, transformation, and returns.
“I am confident that, together, we will seize upcoming opportunities and lead the organisation into a new era of sustained success,” Nkontchou added.
Also commenting, Ecobank Group Chief Executive Officer, Jeremy Awori, welcomed Bosquet Investments Ltd. as a significant shareholder of ETI.
“This 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 joined the Board before serving as Chairman, Alain demonstrated strategic vision and leadership, helping bring the bank into a profitable era.
“I am grateful for his continued trust, and look forward to working together on a shared vision of growth, innovation, and excellence.
“I also extend appreciation to Nedbank for 17 years of constructive partnership. They remain a valued commercial partner of Ecobank,” Awori said.
