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South Africa’s Nedbank sells Ecobank stake for $100 million
9:09 CAT | 15 Aug 2025
FILE - Customers perform transactions on Nedbank automated teller machine (ATM) at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023. [File photo: Reuters/Siphiwe Sibeko]
South Africa’s Nedbank Group said on Friday that it had agreed to sell its 21.2% stake in pan-African lender Ecobank to the private investment vehicle of Alain Nkontchou for $100 million.
Nedbank said in a statement that it had signed a sale and purchase agreement with Bosquet Investments Limited, Nkontchou’s investment vehicle, on Wednesday.
Nkontchou is the managing partner and co-founder of Enko Capital Management, the Johannesburg-listed lender said.
“It is expected that the proposed disposal will be implemented in the fourth quarter of 2025,” Nedbank added.
Source: Reuters
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