Prime Business AfricaCameroonian investor, Alain Nkontchou, has acquired a 21.22 percent stake held by South African-based Nedbank Group in Ecobank Transnational Incorporated (ETI).
According to Ecobank on Friday, Nkontchou acquired the stake through his investment vehicle, Bosquet Investments Ltd, and the transaction remains subject to regulatory approvals.
Join our WhatsApp ChannelBefore the acquisition, Prime Business Africa gathered that Nedbank held 5.24 billion shares in Ecobank, representing a 28.91 percent controlling stake, worth N162.19 billion, as at the end of the second quarter (Q2) of 2025.
This indicates Nedbank sold 3.89 billion shares to Nkontchou, leaving the South African company with 1.35 billion shares, representing a 7.69 percent stake in Ecobank, according to Prime Business Africa’s analysis.
Addressing the acquisition, 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.
Nkontchou, who was the former chairman of Ecobank, added, “I am confident that, together, we will seize the opportunities ahead and lead the organisation into a new era of sustained success.”
Jeremy Awori, the chief executive officer of Ecobank Group, also commented on the transaction, saying, “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.
“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.”
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
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