Ecobank Transnational Incorporated (Eti), parent company of the Ecobank Group, announced on Friday the signing of a purchase agreement between the Nedbank Group Ltd. and Bosquet Investments Ltd.. The transaction involves the sale of Nedbank's 21.22% stake in the pan-African lender, for 1.8 billion rand, or around 102

This transaction, which will be finalized at the end of 2025, remains subject to regulatory approval. “We are pleased to welcome Bosquet Investments Ltd. as a major shareholder of ETI [...] “Having been a part of the bank's journey for many years, first as a member of the board of directors and then as president of ETI, Alain has shown unwavering dedication, strategic vision and leadership that have contributed significantly to the achievements of the bank, bringing it & agrave; an era of profitability,” said Jeremy Awori, CEO of the Ecobank Group, in a

For his part, Alain Nkontchou, also former Chairman of the Board of Directors of ETI, was delighted: “I am very happy to have accomplished this journey with the Ecobank Group and I am delighted to support the institution in achieving its strategic objectives. I am confident that together, we will seize opportunities and lead the organization into a new era of sustainable success.