Ecobank board member Alain Nkontchou pictured right is to acquire Nedbank's 21.22 stake in Ecobank Transnational Incorporated for a reported 100m.
The deal, conducted with Nkontchou's private investment vehicle, Bosquet Investments, will see the Cameroonian banker cement his influence at the pan-African lender, where he has served as a member of the board of directors since 2014 and chairman from 2020 to 2024.
"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. I am confident that, together, we will seize the opportunities ahead and lead the organisation into a new era of sustained success," Nkontchou said.