Nedbank Sells $100m Ecobank Stake to Financier Nkontchou’s Bosquet Investments

Nedbank Group has agreed to sell its 21.2% stake in Ecobank Transnational Incorporated (ETI) to Bosquet Investments Limited for $100 million. The decision comes after a strategic review and is part of Nedbank's efforts to optimize capital allocation and focus on core growth areas.

Nedbank's Chief Executive, Jason Quinn, expressed satisfaction with the milestone and highlighted the professionalism and integrity of ETI's board. The sale marks a significant chapter in Nedbank's journey with ETI and signifies a reset in Nedbank's strategy with a clear focus on the SADC and East Africa regions.

Bosquet Investments, led by Alain Nkontchou, will acquire the stake subject to regulatory approvals. This move reflects Nedbank's commitment to enhancing its financial performance and value proposition.