South Africa’s Nedbank is reshaping its focus with a $100 million sale of its 21.2% stake in Ecobank.
The buyer is Bosquet Investments, owned by Cameroonian businessman Alain Nkontchou.
This decision allows Nedbank to double down on its core markets across southern and eastern Africa.
Ecobank, based in Togo, spans 35 African countries with one of the largest retail banking footprints on the continent.
Although smaller in assets than Nedbank, Ecobank remains a household name in African banking, reporting $398 million in profit before tax for the first half of 2025—a 23% increase.
The deal expands Nkontchou’s influence, adding to his existing 2.86% stake held through Enko Capital, which he runs with his brother, Cyrille.
