CameroonOnline.ORG | South Africa’s Nedbank Grouphas taken a decisive step in reshaping its regional strategy by selling its 21.2 percent stake in Ecobank Transnational Incorporated (ETI) for $100 million. The buyer, Bosquet Investments, is controlled by Alain Nkontchou, a financier with longstanding ties to Ecobank as a former chairman and board member.
The deal, expected to close in the fourth quarter of 2025, reflects Nedbank’s pivot away from broad pan-African exposure. Regulatory uncertainty, the likelihood of stricter capital requirements, and a desire to consolidate in Southern and East Africa drove the decision. CEO Jason Quinn described the sale as a reset, allowing Nedbank to double down on regions where it already holds competitive advantage.
For Ecobank, headquartered in Lomé, Togo, the transaction is not seen as a reflection of weakness. CEO Jeremy Awori stressed that the exit “has nothing to do with performance,” pointing to the group’s 23 percent increase in pretax profit in the first half of 2025. Ecobank’s growth continues to be fueled by payments, remittances, trade finance, and non-lending services.
The Strategic Angle
Nedbank’s Refocus: By stepping back from Ecobank, Nedbank reduces exposure to wider African risks and sharpens its focus on markets it knows best.
Continuity for Ecobank: With Nkontchou’s deep familiarity, the ownership change may be less disruptive than a fresh outsider stake would have been.
Potential Upside: Nkontchou’s direct stake could accelerate Ecobank’s strategic execution, particularly in areas like digital banking and cross-border trade.
Outlook
The transaction underscores diverging priorities. Nedbank is retreating to consolidate strength in fewer markets, while Ecobank, under Nkontchou’s renewed influence, remains committed to pan-African ambitions. For investors, the question will be whether this realignment creates more clarity—or more fragmentation—in Africa’s evolving financial sector.
