Alain Nkontchou, former Chairman of Ecobank Transnational Incorporated (ETI), has acquired Nedbank’s 21.22 percent in Ecobank Transnational Incorporated for $100 million.
The Cameroonian entrepreneur will take over Nedbank’s shareholding in the group through his private investment vehicle, Bosquet Investments Inc. Although the deal is still subject to regulatory approvals, the transaction is expected to cost $100 million.
“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,” Jeremy Awori, the group’s chief executive officer, said in a statement. “Their investment is a strong vote of confidence in our Growth, Transformation and Returns strategy, our performance, and our people.”