Bosquet Investments Ltd, the private investment vehicle of Alain Nkontchou has acquired 21.22% stake in Ecobank Transnational Incorporated (NGX: ETI) from Nedbank Group Ltd.
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ETI, the parent company of the Ecobank Group confirmed the execution of a purchase agreement between Nedbank Group Ltd and Bosquet Investments Ltd on Friday. The transaction remains subject to regulatory approvals.
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.
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.
Alain Nkontchou expressed his enthusiasm regarding this development: “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.”
Alain Francis Nkontchou is a distinguished Cameroonian financier and entrepreneur, who has made remarkable contributions to the financial sector, particularly in promoting investment and economic growth throughout Africa.
Jeremy Awori, Chief Executive Officer, Ecobank Group commented: “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 concluded.
About Ecobank:
Incorporated in Lomé, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent pan-African banking Group, Ecobank, present in 35 African countries.
The Ecobank Group is also represented in France through its subsidiary EBI SA in Paris. ETI also has representative offices in Dubai-United Arab Emirates, London-UK, Beijing-China, JohannesburgSouth Africa, and Addis Ababa-Ethiopia.
ETI is listed on the stock exchanges in Lagos, Accra, and the West African Economic and Monetary Union (UEMOA) – the BRVM – in Abidjan.
The Group is owned by more than 600,000 local and international institutional and individual shareholders. It employs 14,560 people in 39 different countries in 660 branches and offices.
Ecobank is a full-service bank, providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organisations, medium, small and micro businesses and individuals.
About Bosquet Investments Ltd
Bosquet Investments Ltd. 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. 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 c.US$1.2bn.
About Alain Nkontchou (credit: empowerafrica.com)
Alain Francis Nkontchou is a distinguished Cameroonian financier and entrepreneur, who has made remarkable contributions to the financial sector, particularly in promoting investment and economic growth throughout Africa.
Born in Yaoundé, Cameroon, in 1963, Alain Nkontchou pursued his education at the prestigious École supérieure de commerce de Paris (ESCP).
Nkontchou began his professional journey in the financial industry at Chemical Bank, where he was responsible for cash management.
He quickly rose through the ranks and was promoted to Managing Director at Chase Manhattan Bank in 2002. His career further advanced when he served as Managing Director at JPMorgan Chase Bank and Credit Suisse AG in London.
In 2007, Alain Nkontchou founded Enko Capital Management LLP, an investment firm dedicated to African markets.
Under his leadership, Enko Capital has been pivotal in attracting international capital to the continent, supporting the growth of African enterprises, and fostering economic development.
The firm’s innovative approach to investment has made it a key player in the African financial landscape.
Nkontchou joined the Board of Directors of Ecobank Transnational Incorporated (ETI) in 2014 and was appointed Chairman in 2020.
His tenure at Ecobank has been marked by efforts to enhance the bank’s product offerings, improve customer experiences, and drive sustainable development across Africa.
Ecobank, under his leadership, has continued to expand its influence as a leading pan-African banking group.
Alain Nkontchou’s mission is to advance economic development in Africa through strategic financial investments and fostering innovative solutions in the banking sector.
His work at Enko Capital and Ecobank aims to position these institutions as catalysts for positive change, driving growth and resilience in African economies.
Alain Francis Nkontchou’s achievements underscore his commitment to leveraging financial expertise to drive economic progress and development in Africa.
His visionary leadership and strategic initiatives have not only promoted investment in African markets but also contributed significantly to the continent’s economic transformation.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
